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

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

Cumulus Media Stock Down 2.9 %

Shares of CMLS stock opened at $0.67 on Tuesday. The stock has a market cap of $11.38 million, a P/E ratio of -0.07 and a beta of 1.31. The company’s fifty day simple moving average is $0.82 and its two-hundred day simple moving average is $1.37. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. Cumulus Media has a 52 week low of $0.63 and a 52 week high of $5.35.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.07). Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. The company had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $204.05 million. During the same quarter in the prior year, the business posted $0.16 EPS. Analysts predict that Cumulus Media will post -2.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CMLS. Y Intercept Hong Kong Ltd bought a new position in shares of Cumulus Media in the 3rd quarter worth $25,000. Garden State Investment Advisory Services LLC purchased a new position in Cumulus Media in the third quarter valued at about $191,000. Finally, Acadian Asset Management LLC grew its stake in Cumulus Media by 3.9% in the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after purchasing an additional 15,920 shares during the last quarter. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

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.