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

Analysts at StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS) in a report released on Tuesday. The brokerage set a “hold” rating on the stock.

Cumulus Media Trading Down 2.9 %

CMLS opened at $0.67 on Tuesday. The company has a fifty day moving average price of $0.81 and a two-hundred day moving average price of $1.37. Cumulus Media has a 1-year low of $0.63 and a 1-year high of $5.35. The company has a market cap of $11.38 million, a P/E ratio of -0.07 and a beta of 1.31. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68.

Cumulus Media (NASDAQ:CMLS) last issued its earnings results on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.07). The firm had revenue of $203.60 million during the quarter, compared to the consensus estimate of $204.05 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. During the same period in the previous year, the firm earned $0.16 earnings per share. 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 acquired a new position in shares of Cumulus Media during the third quarter valued at about $25,000. Garden State Investment Advisory Services LLC bought a new position in Cumulus Media in the 3rd quarter valued at about $191,000. Finally, Acadian Asset Management LLC boosted its stake in 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 purchasing an additional 15,920 shares during the last quarter. Institutional investors and hedge funds 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.