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

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

Cumulus Media Price Performance

Shares of NASDAQ CMLS opened at $1.62 on Thursday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 3.22. Cumulus Media has a twelve month low of $1.29 and a twelve month high of $5.51. The stock has a 50 day moving average of $2.05 and a two-hundred day moving average of $3.00. The stock has a market cap of $27.36 million, a P/E ratio of -0.24 and a beta of 1.47.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Friday, August 2nd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.19). Cumulus Media had a negative net margin of 13.18% and a negative return on equity of 16.78%. The firm had revenue of $204.85 million during the quarter, compared to analysts’ expectations of $206.00 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. On average, research analysts forecast that Cumulus Media will post -1.91 earnings per share for the current year.

Institutional Investors Weigh In On Cumulus Media

Several large investors have recently modified their holdings of the stock. Balanced Rock Investment Advisors LLC raised its stake in shares of Cumulus Media by 12.7% during the second 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. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cumulus Media during the first quarter worth approximately $303,000. Acadian Asset Management LLC raised its stake in shares of Cumulus Media by 9.6% during the first quarter. Acadian Asset Management LLC now owns 410,300 shares of the company’s stock worth $1,472,000 after purchasing an additional 36,024 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Cumulus Media during the first quarter worth approximately $54,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Cumulus Media during the fourth quarter worth approximately $57,000. Hedge funds and other 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.