Cumulus Media (NASDAQ:CMLS) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report released on Monday morning. The firm issued a hold rating on the stock.

Cumulus Media Price Performance

Shares of CMLS opened at $0.76 on Monday. The business’s 50-day moving average is $0.88 and its two-hundred day moving average is $1.42. The company has a market capitalization of $12.91 million, a P/E ratio of -0.08 and a beta of 1.31. Cumulus Media has a fifty-two week low of $0.68 and a fifty-two week high of $5.51. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The company 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 previous year, the company earned $0.16 EPS. Research analysts predict that Cumulus Media will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Cumulus Media

Several large investors have recently made changes to their positions in the company. Balanced Rock Investment Advisors LLC grew its position in 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 period. Acadian Asset Management LLC grew its position in shares of 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 during the period. Y Intercept Hong Kong Ltd acquired a new position in Cumulus Media in the 3rd quarter worth about $25,000. Finally, Garden State Investment Advisory Services LLC purchased a new position in Cumulus Media during the third quarter worth approximately $191,000. 48.68% of the stock is currently owned by institutional investors and hedge funds.

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.