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

StockNews.com started coverage on shares of Cumulus Media (NASDAQ:CMLS – Get Rating) in a research note published on Thursday. The firm issued a hold rating on the stock.

CMLS has been the subject of a number of other reports. TheStreet cut shares of Cumulus Media from a c rating to a d+ rating in a report on Tuesday, March 7th. Barrington Research dropped their target price on shares of Cumulus Media from $14.00 to $11.00 and set an outperform rating for the company in a report on Monday, February 27th.

Cumulus Media Stock Performance

NASDAQ:CMLS traded down $0.27 during mid-day trading on Thursday, reaching $3.98. The stock had a trading volume of 440,587 shares, compared to its average volume of 207,797. The company has a debt-to-equity ratio of 2.27, a quick ratio of 2.37 and a current ratio of 2.37. The firm has a market capitalization of $73.15 million, a price-to-earnings ratio of 4.80 and a beta of 1.51. Cumulus Media has a twelve month low of $3.88 and a twelve month high of $15.67. The business has a 50 day simple moving average of $5.93 and a 200 day simple moving average of $6.94.

Cumulus Media (NASDAQ:CMLS – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.23. The firm had revenue of $251.27 million during the quarter, compared to the consensus estimate of $240.05 million. Cumulus Media had a net margin of 1.70% and a return on equity of 6.71%. On average, analysts expect that Cumulus Media will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake in shares of Cumulus Media by 36.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,847 shares of the company’s stock worth $37,000 after purchasing an additional 1,293 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Cumulus Media during the 2nd quarter worth approximately $38,000. UBS Group AG purchased a new position in shares of Cumulus Media during the 4th quarter worth approximately $42,000. American International Group Inc. purchased a new position in shares of Cumulus Media during the 2nd quarter worth approximately $67,000. Finally, BNP Paribas Arbitrage SNC increased its stake in shares of Cumulus Media by 89.8% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 9,200 shares of the company’s stock worth $65,000 after purchasing an additional 4,353 shares in the last quarter. 62.97% of the stock is owned by hedge funds and other institutional investors.

About Cumulus Media

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Cumulus Media, Inc engages in the business of radio broadcasting. It operates through the following segments: Radio Station Group, Westwood One and Corporate and Other. The Radio Station Group segment includes the sale of broadcasting time to local, regional, and national advertisers. The Westwood One segment covers the revenues generated through network advertising.