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

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

Cumulus Media Stock Performance

Shares of CMLS opened at $1.17 on Monday. Cumulus Media has a 52-week low of $1.13 and a 52-week high of $5.51. The stock’s 50-day simple moving average is $1.43 and its 200 day simple moving average is $1.94. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market capitalization of $19.82 million, a price-to-earnings ratio of -0.17 and a beta of 1.44.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in Cumulus Media during the first quarter worth about $54,000. Balanced Rock Investment Advisors LLC boosted its position in shares of Cumulus Media by 12.7% during the 2nd 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 last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Cumulus Media during the first quarter worth about $303,000. Finally, Acadian Asset Management LLC increased its position 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 purchasing an additional 15,920 shares during the last quarter. Institutional investors own 48.68% of the company’s stock.

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.