StockNews.com Begins Coverage on Cumulus Media (NASDAQ:CMLS)

Investment analysts at StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the stock.

Cumulus Media Stock Down 2.9 %

Shares of NASDAQ:CMLS opened at $0.67 on Tuesday. The firm has a market cap of $11.38 million, a P/E ratio of -0.07 and a beta of 1.31. Cumulus Media has a 12-month low of $0.63 and a 12-month high of $5.35. The business has a fifty day simple moving average of $0.81 and a 200 day simple moving average of $1.37. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68.

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

Institutional Investors Weigh In On Cumulus Media

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in Cumulus Media by 3.9% in the second 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 during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Cumulus Media in the 3rd quarter worth about $25,000. Finally, Garden State Investment Advisory Services LLC acquired a new position in shares of Cumulus Media in the 3rd quarter valued at about $191,000. 48.68% of the stock is currently owned by institutional investors and hedge funds.

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.