Cumulus Media (NASDAQ:CMLS) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

Cumulus Media Stock Performance

NASDAQ CMLS opened at $1.49 on Wednesday. Cumulus Media has a twelve month low of $1.29 and a twelve month high of $5.51. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 3.55. The stock has a market cap of $25.16 million, a P/E ratio of -0.22 and a beta of 1.45. The company’s 50-day simple moving average is $1.72 and its 200 day simple moving average is $2.37.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Friday, August 2nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.19). The company had revenue of $204.85 million during the quarter, compared to analyst estimates of $206.00 million. Cumulus Media had a negative return on equity of 22.15% and a negative net margin of 16.46%. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, research analysts forecast that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

A number of hedge funds have recently made changes to their positions in CMLS. Acadian Asset Management LLC boosted its position in Cumulus Media by 9.6% in the first quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock valued at $1,472,000 after buying an additional 36,024 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Cumulus Media during the 4th quarter worth approximately $57,000. Empowered Funds LLC acquired a new stake in Cumulus Media during the 1st quarter valued at $54,000. Jacobs Levy Equity Management Inc. acquired a new stake in Cumulus Media during the 1st quarter valued at $303,000. Finally, Balanced Rock Investment Advisors LLC raised its position 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 purchasing an additional 10,228 shares during the last quarter. Institutional investors and hedge funds own 48.68% of the company’s stock.

Cumulus Media Company Profile

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.