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

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

Cumulus Media Trading Down 1.4 %

NASDAQ:CMLS opened at $0.71 on Wednesday. The stock has a market capitalization of $12.06 million, a price-to-earnings ratio of -0.08 and a beta of 1.45. Cumulus Media has a 52 week low of $0.70 and a 52 week high of $5.51. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. The firm has a 50 day moving average of $1.25 and a 200 day moving average of $1.80.

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

Institutional Investors Weigh In On Cumulus Media

Institutional investors have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd acquired a new position in shares of Cumulus Media during the third quarter valued at about $25,000. Empowered Funds LLC acquired a new stake in Cumulus Media in the 1st quarter worth approximately $54,000. Balanced Rock Investment Advisors LLC grew its position in 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 during the last quarter. Garden State Investment Advisory Services LLC purchased a new stake in Cumulus Media during the 3rd quarter worth approximately $191,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Cumulus Media during the 1st quarter valued at approximately $303,000. 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.