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

by · The Markets Daily

StockNews.com began coverage on shares of Cumulus Media (NASDAQ:CMLS – Free Report) in a research report report published on Tuesday. The brokerage issued a hold rating on the stock.

Cumulus Media Price Performance

NASDAQ CMLS opened at $0.87 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.88 and a debt-to-equity ratio of 3.68. Cumulus Media has a 1 year low of $0.86 and a 1 year high of $5.51. The company has a market cap of $14.75 million, a PE ratio of -0.10 and a beta of 1.45. The stock’s 50-day moving average price is $1.33 and its two-hundred day moving average price is $1.87.

Cumulus Media (NASDAQ:CMLS – Get Free Report) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.61) earnings per share (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 firm had revenue of $203.60 million for the quarter, compared to analyst estimates of $204.05 million. During the same quarter in the prior year, the firm earned $0.16 EPS. On average, analysts predict that Cumulus Media will post -2.42 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CMLS. Acadian Asset Management LLC boosted its position in Cumulus Media by 3.9% during the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after acquiring an additional 15,920 shares during the period. Balanced Rock Investment Advisors LLC boosted its holdings in shares of Cumulus Media by 12.7% during the second 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 period. Jacobs Levy Equity Management Inc. purchased a new position in Cumulus Media during the first quarter valued at approximately $303,000. Finally, Empowered Funds LLC acquired a new position in Cumulus Media in the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 48.68% of the company’s stock.

About Cumulus Media

(Get Free Report)

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.

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