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

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

Cumulus Media Price Performance

Shares of CMLS opened at $2.05 on Wednesday. The stock has a 50 day simple moving average of $2.13 and a 200 day simple moving average of $3.14. Cumulus Media has a 52-week low of $1.78 and a 52-week high of $6.59. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a market capitalization of $34.62 million, a PE ratio of -0.31 and a beta of 1.47.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Friday, May 3rd. The company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($1.33) by $0.48. Cumulus Media had a negative net margin of 13.18% and a negative return on equity of 16.78%. The company had revenue of $200.05 million during the quarter, compared to analysts’ expectations of $200.30 million. Sell-side analysts predict that Cumulus Media will post -1.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in shares of Cumulus Media in the first quarter worth $54,000. Quadrature Capital Ltd acquired a new position in shares of Cumulus Media during the 4th quarter worth about $57,000. First Eagle Investment Management LLC acquired a new position in shares of Cumulus Media during the 4th quarter worth about $117,000. Ritholtz Wealth Management bought a new stake in Cumulus Media during the fourth quarter worth about $145,000. Finally, Balanced Rock Investment Advisors LLC boosted its position in Cumulus Media by 24.5% during the first quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock valued at $288,000 after purchasing an additional 15,820 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.