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

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

Cumulus Media Stock Up 2.0 %

Shares of CMLS opened at $0.78 on Friday. The company has a market capitalization of $13.20 million, a P/E ratio of -0.09 and a beta of 1.45. 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 has a one year low of $0.68 and a one year high of $5.51. The business’s 50 day simple moving average is $1.08 and its 200-day simple moving average is $1.65.

Cumulus Media (NASDAQ:CMLS) last announced its 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 business had revenue of $203.60 million during the quarter, compared to analyst estimates of $204.05 million. During the same period in the previous year, the firm earned $0.16 earnings per share. As a group, sell-side 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 the stock. Balanced Rock Investment Advisors LLC raised its position in Cumulus Media by 12.7% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after purchasing an additional 10,228 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Cumulus Media by 3.9% during the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after acquiring an additional 15,920 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Cumulus Media during the 3rd quarter valued at $25,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Cumulus Media during the 1st quarter valued at $303,000. Finally, Garden State Investment Advisory Services LLC bought a new stake in shares of Cumulus Media during the 3rd quarter valued at $191,000. Institutional investors own 48.68% of the company’s stock.

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.