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

Equities research analysts at StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report released on Saturday. The brokerage set a “hold” rating on the stock.

Cumulus Media Trading Up 4.6 %

NASDAQ CMLS opened at $1.36 on Friday. The stock’s fifty day moving average price is $1.51 and its 200-day moving average price is $2.14. Cumulus Media has a 12 month low of $1.25 and a 12 month high of $5.51. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 3.55. The stock has a market cap of $23.04 million, a P/E ratio of -0.16 and a beta of 1.44.

Cumulus Media (NASDAQ:CMLS) last released its earnings results on Friday, August 2nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.19). Cumulus Media had a negative return on equity of 22.15% and a negative net margin of 16.46%. The firm had revenue of $204.85 million during the quarter, compared to analysts’ expectations of $206.00 million. During the same period in the prior year, the company posted ($0.06) earnings per share. As a group, equities analysts forecast that Cumulus Media will post -2.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

Several hedge funds have recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in shares of Cumulus Media during the 1st quarter valued at about $54,000. Quadrature Capital Ltd acquired a new stake in shares of Cumulus Media during the fourth quarter valued at about $57,000. Balanced Rock Investment Advisors LLC lifted its stake 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 acquiring an additional 10,228 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cumulus Media in the first quarter valued at approximately $303,000. Finally, Acadian Asset Management LLC grew its stake in Cumulus Media by 3.9% during the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after purchasing an additional 15,920 shares in the last quarter. 48.68% of the stock is owned by institutional investors and hedge funds.

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.