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

Stock analysts at StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued on Wednesday. The brokerage set a “hold” rating on the stock.

Cumulus Media Trading Up 1.4 %

NASDAQ:CMLS opened at $0.72 on Wednesday. The firm has a market capitalization of $12.23 million, a price-to-earnings ratio of -0.08 and a beta of 1.45. Cumulus Media has a 1-year low of $0.70 and a 1-year high of $5.51. The business’s 50-day moving average price is $1.27 and its two-hundred day moving average price is $1.81. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly 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 during the quarter, compared to analyst estimates of $204.05 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. During the same quarter in the prior year, the business earned $0.16 earnings per share. On average, equities analysts expect that Cumulus Media will post -2.71 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Balanced Rock Investment Advisors LLC increased its position in shares of 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 in the last quarter. Empowered Funds LLC bought a new position in Cumulus Media during the 1st quarter worth about $54,000. Acadian Asset Management LLC raised its stake in shares of 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 purchasing an additional 15,920 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cumulus Media in the 1st quarter valued at about $303,000. 48.68% of the stock is owned by institutional investors and hedge funds.

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.