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

Equities researchers at StockNews.com initiated coverage on shares of Cumulus Media (NASDAQ:CMLS) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the stock.

Cumulus Media Price Performance

NASDAQ:CMLS opened at $0.18 on Friday. The firm has a market capitalization of $3.10 million, a price-to-earnings ratio of -0.02 and a beta of 1.51. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. Cumulus Media has a 12-month low of $0.10 and a 12-month high of $3.15. The stock’s 50 day moving average price is $0.31 and its two-hundred day moving average price is $0.62.

Cumulus Media (NASDAQ:CMLS) last announced its earnings results on Thursday, May 1st. The company reported ($1.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.59). The firm had revenue of $187.35 million for the quarter, compared to the consensus estimate of $190.10 million. Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. On average, analysts anticipate that Cumulus Media will post -2.71 earnings per share for the current year.

Institutional Investors Weigh In On Cumulus Media

A hedge fund recently raised its stake in Cumulus Media stock. Zazove Associates LLC raised its stake in shares of Cumulus Media Inc. (NASDAQ:CMLS) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,528,428 shares of the company’s stock after purchasing an additional 70,000 shares during the period. Zazove Associates LLC owned 9.00% of Cumulus Media worth $1,024,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.