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

Research analysts at StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report issued on Thursday. The brokerage set a “hold” rating on the stock.

Cumulus Media Trading Down 5.4 %

Shares of CMLS opened at $1.39 on Thursday. Cumulus Media has a fifty-two week low of $1.29 and a fifty-two week high of $5.51. The firm has a market cap of $23.47 million, a price-to-earnings ratio of -0.21 and a beta of 1.45. The firm has a 50 day moving average price of $1.65 and a 200-day moving average price of $2.30. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.88 and a current ratio of 1.88.

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

Hedge Funds Weigh In On Cumulus Media

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in Cumulus Media by 3.9% during 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. 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 valued at $185,000 after buying an additional 10,228 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Cumulus Media in the first quarter worth approximately $303,000. Empowered Funds LLC purchased a new stake in shares of Cumulus Media in the first quarter worth $54,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Cumulus Media during the 4th quarter valued at $57,000. 48.68% of the stock is currently owned by hedge funds and other 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.