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

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

Cumulus Media Price Performance

NASDAQ:CMLS opened at $1.52 on Tuesday. The stock has a market capitalization of $25.75 million, a PE ratio of -0.23 and a beta of 1.45. Cumulus Media has a 1-year low of $1.29 and a 1-year high of $5.51. The firm has a fifty day simple moving average of $1.77 and a 200 day simple moving average of $2.46. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 3.55.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Friday, August 2nd. The company reported ($0.68) earnings per share (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 firm had revenue of $204.85 million during the quarter, compared to the consensus estimate of $206.00 million. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, research analysts expect that Cumulus Media will post -2.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

Several large investors have recently modified their holdings of CMLS. Acadian Asset Management LLC increased its position in Cumulus Media by 3.9% during the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after acquiring an additional 15,920 shares during the period. Balanced Rock Investment Advisors LLC grew 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 worth $185,000 after purchasing an additional 10,228 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Cumulus Media during the first quarter worth approximately $303,000. Empowered Funds LLC acquired a new stake in shares of Cumulus Media in the first quarter valued at approximately $54,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Cumulus Media in the fourth quarter valued at approximately $57,000. 48.68% of the stock is owned by 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.