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

Equities researchers at StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued on Friday. The brokerage set a “hold” rating on the stock.

Cumulus Media Price Performance

NASDAQ:CMLS opened at $0.78 on Friday. The firm has a market cap of $13.20 million, a PE ratio of -0.09 and a beta of 1.45. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. The company’s 50-day moving average price is $1.08 and its two-hundred day moving average price is $1.64. Cumulus Media has a 12 month low of $0.68 and a 12 month high of $5.51.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results 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 the consensus estimate of $204.05 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. During the same period in the previous year, the company posted $0.16 earnings per share. On average, equities analysts anticipate that Cumulus Media will post -2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

A number of large investors have recently added to or reduced their stakes in CMLS. Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media in the first quarter valued at $303,000. Balanced Rock Investment Advisors LLC grew its stake 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 valued at $185,000 after buying an additional 10,228 shares during the last quarter. Acadian Asset Management LLC raised its holdings in 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 acquiring an additional 15,920 shares during the period. Garden State Investment Advisory Services LLC acquired a new stake in Cumulus Media during the third quarter worth approximately $191,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Cumulus Media during the third quarter worth approximately $25,000. 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.