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

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

Cumulus Media Stock Performance

NASDAQ:CMLS opened at $0.75 on Friday. The firm’s 50-day moving average is $0.95 and its 200-day moving average is $1.48. The company has a market cap of $12.74 million, a price-to-earnings ratio of -0.09 and a beta of 1.31. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. Cumulus Media has a 52-week low of $0.68 and a 52-week high of $5.51.

Cumulus Media (NASDAQ:CMLS) last released its earnings results on Friday, November 1st. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The firm had revenue of $203.60 million for the quarter, compared to analyst estimates of $204.05 million. Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. During the same period last year, the business earned $0.16 earnings per share. Equities research analysts anticipate that Cumulus Media will post -2.71 earnings per share for the current year.

Institutional Investors Weigh In On Cumulus Media

Several institutional investors and hedge funds have recently bought and sold shares of the business. Balanced Rock Investment Advisors LLC grew its stake in shares of 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 period. Acadian Asset Management LLC boosted its stake in Cumulus Media by 3.9% in the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after buying an additional 15,920 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Cumulus Media in the third quarter valued at $25,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in Cumulus Media during the third quarter worth $191,000. 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.