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

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

Cumulus Media Price Performance

Shares of Cumulus Media stock opened at $0.89 on Wednesday. The business has a 50 day moving average of $0.78 and a 200 day moving average of $1.33. Cumulus Media has a 52 week low of $0.63 and a 52 week high of $5.30. The company has a market cap of $15.16 million, a PE ratio of -0.10 and a beta of 1.32. 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 posted its earnings results on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $204.05 million. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, equities research analysts forecast that Cumulus Media will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Cumulus Media

A number of institutional investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cumulus Media in the 3rd quarter worth approximately $25,000. Garden State Investment Advisory Services LLC purchased a new stake in shares of Cumulus Media in the third quarter worth $191,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Cumulus Media by 3.9% during the second 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. Institutional investors own 48.68% of the company’s stock.

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.