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

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

Cumulus Media Stock Performance

Shares of NASDAQ:CMLS opened at $1.54 on Tuesday. The company has a market capitalization of $26.09 million, a price-to-earnings ratio of -0.23 and a beta of 1.45. Cumulus Media has a 12 month low of $1.29 and a 12 month high of $5.51. The firm’s 50-day moving average is $1.78 and its 200 day moving average is $2.47. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 3.55.

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

Hedge Funds Weigh In On Cumulus Media

Hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new position in Cumulus Media in the 4th quarter worth about $57,000. Empowered Funds LLC bought a new position in Cumulus Media in the 1st quarter worth about $54,000. First Eagle Investment Management LLC bought a new position in Cumulus Media in the 4th quarter worth about $117,000. Balanced Rock Investment Advisors LLC grew its stake in Cumulus Media by 24.5% in the 1st quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock worth $288,000 after acquiring an additional 15,820 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Cumulus Media in the 1st quarter worth about $303,000. 48.68% of the stock is currently owned by institutional investors.

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.