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

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Tuesday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Performance

Shares of CMLS stock opened at $0.73 on Tuesday. The company has a market capitalization of $12.40 million, a price-to-earnings ratio of -0.08 and a beta of 1.31. Cumulus Media has a 1-year low of $0.63 and a 1-year high of $5.30. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. The stock’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $1.36.

Cumulus Media (NASDAQ:CMLS) last released its earnings results on Friday, November 1st. The company reported ($0.61) earnings per share 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 period last year, the firm earned $0.16 EPS. On average, sell-side analysts predict that Cumulus Media will post -2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

A number of institutional investors have recently modified their holdings of CMLS. Acadian Asset Management LLC lifted its holdings 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 buying an additional 15,920 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new position in Cumulus Media during the third quarter valued at approximately $191,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Cumulus Media in the third quarter valued at approximately $25,000. 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.