Cumulus Media (NASDAQ:CMLS) Earns Hold Rating from Analysts at StockNews.com

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

Cumulus Media Price Performance

CMLS stock opened at $0.71 on Wednesday. The business’s 50-day moving average is $1.23 and its two-hundred day moving average is $1.78. The firm has a market capitalization of $12.06 million, a P/E ratio of -0.08 and a beta of 1.45. Cumulus Media has a 1 year low of $0.70 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 quarterly 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). Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. The business had revenue of $203.60 million during the quarter, compared to analyst estimates of $204.05 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. Analysts anticipate that Cumulus Media will post -2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

Institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cumulus Media during the third quarter worth about $25,000. Empowered Funds LLC purchased a new stake in Cumulus Media in the first quarter valued at approximately $54,000. Balanced Rock Investment Advisors LLC boosted its holdings in shares of Cumulus Media by 12.7% in the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after acquiring an additional 10,228 shares during the period. Garden State Investment Advisory Services LLC purchased a new position in shares of Cumulus Media during the third quarter worth approximately $191,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Cumulus Media in the 1st quarter valued at $303,000. 48.68% of the stock is owned by hedge funds and other institutional investors.

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.