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

Stock analysts at StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

Cumulus Media Price Performance

Shares of Cumulus Media stock opened at $0.89 on Wednesday. The firm has a market cap of $15.16 million, a PE ratio of -0.10 and a beta of 1.32. Cumulus Media has a twelve month low of $0.63 and a twelve month high of $5.30. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. The business has a 50-day moving average price of $0.78 and a 200 day moving average price of $1.33.

Cumulus Media (NASDAQ:CMLS) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.61) EPS 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 analysts’ expectations of $204.05 million. During the same quarter last year, the firm earned $0.16 earnings per share. 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

Several institutional investors have recently bought and sold shares of CMLS. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cumulus Media during the third quarter worth approximately $25,000. Garden State Investment Advisory Services LLC acquired a new stake in shares of Cumulus Media in the third quarter valued at about $191,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Cumulus Media by 3.9% in the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after buying an additional 15,920 shares in 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.