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

StockNews.com assumed coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note released on Sunday morning. The brokerage issued a hold rating on the stock.

Cumulus Media Stock Performance

Cumulus Media stock opened at $1.28 on Friday. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.88 and a quick ratio of 1.88. Cumulus Media has a 12 month low of $1.24 and a 12 month high of $5.51. The company has a fifty day moving average price of $1.49 and a two-hundred day moving average price of $2.04. The company has a market cap of $21.61 million, a PE ratio of -0.19 and a beta of 1.44.

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

Institutional Trading of Cumulus Media

A number of institutional investors and hedge funds have recently made changes to their positions in CMLS. Quadrature Capital Ltd acquired a new position in Cumulus Media during the 4th quarter valued at approximately $57,000. Empowered Funds LLC bought a new stake in Cumulus Media in the first quarter valued at $54,000. Balanced Rock Investment Advisors LLC lifted its stake in Cumulus Media by 24.5% in the first quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock valued at $288,000 after buying an additional 15,820 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media during the first quarter valued at $303,000. Finally, Acadian Asset Management LLC grew its position 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 acquiring an additional 36,024 shares during the last quarter. 48.68% of the stock is currently owned by institutional investors and hedge funds.

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.