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

StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note released on Tuesday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Up 9.0 %

Shares of CMLS stock opened at $0.73 on Tuesday. The company has a market capitalization of $12.40 million, a price-to-earnings ratio of -0.08 and a beta of 1.31. 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 stock’s 50 day simple moving average is $0.80 and its 200 day simple moving average is $1.36. Cumulus Media has a twelve month low of $0.63 and a twelve month high of $5.30.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data 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). Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. The firm had revenue of $203.60 million during the quarter, compared to analyst estimates of $204.05 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, research analysts predict that Cumulus Media will post -2.71 EPS for the current year.

Institutional Trading of Cumulus Media

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd bought a new stake in shares of Cumulus Media in the third quarter valued at approximately $25,000. Garden State Investment Advisory Services LLC bought a new position in Cumulus Media during the third quarter worth $191,000. Finally, Acadian Asset Management LLC raised its stake 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 purchasing an additional 15,920 shares during the last quarter. Institutional investors and hedge funds own 48.68% of the company’s stock.

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.