Cumulus Media (NASDAQ:CMLS) Earns Hold Rating from Analysts at StockNews.com

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

Cumulus Media Stock Performance

Cumulus Media stock opened at $0.76 on Monday. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market capitalization of $12.91 million, a PE ratio of -0.08 and a beta of 1.31. The company has a 50 day moving average price of $0.88 and a 200-day moving average price of $1.42. Cumulus Media has a fifty-two week low of $0.68 and a fifty-two week high of $5.51.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Friday, November 1st. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The firm had revenue of $203.60 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $0.16 earnings per share. As a group, equities analysts forecast that Cumulus Media will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Cumulus Media

Several institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC boosted its position 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. Garden State Investment Advisory Services LLC bought a new position in Cumulus Media in the third quarter worth about $191,000. Balanced Rock Investment Advisors LLC lifted 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 valued at $185,000 after buying an additional 10,228 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Cumulus Media during the 3rd quarter worth approximately $25,000. 48.68% of the stock is owned by hedge funds and other institutional investors.

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.