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

StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note released on Sunday. The brokerage issued a hold rating on the stock.

Cumulus Media Price Performance

CMLS stock opened at $1.14 on Friday. Cumulus Media has a twelve month low of $1.13 and a twelve month high of $5.51. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 3.55. The stock has a market cap of $19.25 million, a P/E ratio of -0.17 and a beta of 1.44. The company’s 50 day moving average is $1.47 and its two-hundred day moving average is $2.01.

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

Institutional Trading of Cumulus Media

Hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cumulus Media in the 1st quarter valued at $303,000. Acadian Asset Management LLC boosted its holdings 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 purchasing an additional 36,024 shares during the last quarter. Balanced Rock Investment Advisors LLC boosted its stake in Cumulus Media by 24.5% during the 1st quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock valued at $288,000 after acquiring an additional 15,820 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Cumulus Media in the 1st quarter worth approximately $54,000. Finally, Quadrature Capital Ltd bought a new stake in Cumulus Media during the fourth quarter valued at $57,000. Institutional investors and hedge funds 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.