StockNews.com Initiates Coverage on Cumulus Media (NASDAQ:CMLS)

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

Cumulus Media Price Performance

Shares of CMLS opened at $0.88 on Tuesday. The company has a market cap of $14.89 million, a P/E ratio of -0.10 and a beta of 1.45. Cumulus Media has a fifty-two week low of $0.84 and a fifty-two week high of $5.51. The company has a quick ratio of 1.88, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. The firm’s 50 day moving average price is $1.32 and its 200 day moving average price is $1.85.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. The company had revenue of $203.60 million for the quarter, compared to analysts’ expectations of $204.05 million. During the same period in the prior year, the company posted $0.16 EPS. On average, research analysts forecast that Cumulus Media will post -2.42 earnings per share for the current fiscal year.

Institutional Trading of Cumulus Media

Large investors have recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in shares of Cumulus Media during the 1st quarter worth about $54,000. Balanced Rock Investment Advisors LLC lifted its position in shares of Cumulus Media by 12.7% during 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. acquired a new position in shares of Cumulus Media in the 1st quarter valued at $303,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Cumulus Media by 3.9% in 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. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

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.