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

Research analysts at StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Sunday. The firm set a “hold” rating on the stock.

Cumulus Media Stock Performance

Cumulus Media stock opened at $0.76 on Friday. The business has a 50 day moving average of $0.96 and a 200-day moving average of $1.49. The company has a market capitalization of $12.93 million, a P/E ratio of -0.08 and a beta of 1.31. Cumulus Media has a 1 year low of $0.68 and a 1 year high of $5.51. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.89 and a quick ratio of 1.89.

Cumulus Media (NASDAQ:CMLS) last posted its earnings results 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). The business had revenue of $203.60 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.16 earnings per share. On average, equities research analysts predict that Cumulus Media will post -2.71 earnings per share for the current year.

Institutional Investors Weigh In On Cumulus Media

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its position in shares of Cumulus Media by 3.9% during the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after acquiring an additional 15,920 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new stake in Cumulus Media in the third quarter valued at approximately $191,000. Balanced Rock Investment Advisors LLC increased 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 valued at $185,000 after purchasing an additional 10,228 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Cumulus Media during the 3rd quarter worth approximately $25,000. Institutional investors 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.