145,500 Shares in Cumulus Media Inc. (NASDAQ:CMLS) Acquired by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC purchased a new position in Cumulus Media Inc. (NASDAQ:CMLS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 145,500 shares of the company’s stock, valued at approximately $191,000.

Separately, Balanced Rock Investment Advisors LLC grew its holdings in shares of Cumulus Media by 12.7% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after acquiring an additional 10,228 shares during the period. 48.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Cumulus Media in a report on Friday. They issued a “hold” rating on the stock.

Cumulus Media Price Performance

Shares of NASDAQ:CMLS opened at $0.78 on Tuesday. The business’s fifty day moving average price is $1.07 and its two-hundred day moving average price is $1.61. The stock has a market cap of $13.23 million, a PE ratio of -0.09 and a beta of 1.45. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. Cumulus Media Inc. has a one year low of $0.68 and a one year high of $5.51.

Cumulus Media (NASDAQ:CMLS) last announced 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 company had revenue of $203.60 million for the quarter, compared to analyst estimates 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 quarter last year, the company posted $0.16 EPS. On average, analysts forecast that Cumulus Media Inc. will post -2.71 EPS for the current fiscal year.

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.