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

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report issued on Monday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Performance

CMLS opened at $1.17 on Monday. 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 firm has a market cap of $19.82 million, a price-to-earnings ratio of -0.17 and a beta of 1.44. Cumulus Media has a 12 month low of $1.13 and a 12 month high of $5.51. The stock has a fifty day moving average price of $1.42 and a 200-day moving average price of $1.94.

Cumulus Media (NASDAQ:CMLS) last announced 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). The business had revenue of $204.85 million for the quarter, compared to analyst estimates 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 period in the prior year, the company earned ($0.06) earnings per share. As a group, equities research analysts anticipate that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC purchased a new stake in shares of Cumulus Media during the first quarter worth $54,000. Balanced Rock Investment Advisors LLC boosted its position in Cumulus Media by 12.7% during the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after acquiring an additional 10,228 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Cumulus Media during the 1st quarter valued at about $303,000. Finally, Acadian Asset Management LLC grew 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 in the last quarter. Hedge funds and other institutional investors 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.