Cumulus Media (NASDAQ:CMLS) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report published on Friday morning. The firm issued a hold rating on the stock.

Cumulus Media Stock Up 2.0 %

Shares of NASDAQ CMLS opened at $0.78 on Friday. The stock has a market capitalization of $13.20 million, a PE ratio of -0.09 and a beta of 1.45. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. Cumulus Media has a 12-month low of $0.68 and a 12-month high of $5.51. The stock’s fifty day simple moving average is $1.08 and its two-hundred day simple moving average is $1.63.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Friday, November 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The firm had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $204.05 million. Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. During the same period in the previous year, the firm earned $0.16 EPS. As a group, analysts expect that Cumulus Media will post -2.71 EPS for the current fiscal year.

Institutional Trading of Cumulus Media

A number of hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its position in shares of Cumulus Media by 3.9% during the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after buying an additional 15,920 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of Cumulus Media during the 3rd quarter worth about $191,000. Balanced Rock Investment Advisors LLC boosted its holdings in Cumulus Media by 12.7% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after buying an additional 10,228 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cumulus Media in the first quarter valued at approximately $303,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Cumulus Media in the third quarter worth approximately $25,000. Hedge funds and other institutional investors own 48.68% of the company’s stock.

About Cumulus Media

Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates stations in various markets, as well as affiliated stations through Westwood One. The company's content portfolio includes sports, news, talk, and entertainment programming from various brands, including the NFL, the NCAA, the Masters, CNN, AP News, the Academy of Country Music Awards, and other partners.