Cumulus Media Inc. (NASDAQ:CMLS) announced its earnings results on Monday, May 15th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.38, Morningstar.com reports. Cumulus Media had a negative return on equity of 216.43% and a negative net margin of 44.30%. The company had revenue of $264.03 million for the quarter.
Cumulus Media (NASDAQ CMLS) traded down 8.22% during mid-day trading on Friday, hitting $0.48. The company had a trading volume of 199,520 shares. The stock’s 50 day moving average price is $0.42 and its 200 day moving average price is $0.69. Cumulus Media has a 52-week low of $0.22 and a 52-week high of $3.60. The firm’s market cap is $14.07 million.
A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Cumulus Media by 65.2% in the first quarter. Renaissance Technologies LLC now owns 334,805 shares of the company’s stock worth $107,000 after buying an additional 132,100 shares during the period. York Capital Management Global Advisors LLC acquired a new position in shares of Cumulus Media during the third quarter worth about $148,000. Vanguard Group Inc. raised its position in shares of Cumulus Media by 2.8% in the first quarter. Vanguard Group Inc. now owns 576,260 shares of the company’s stock worth $185,000 after buying an additional 15,800 shares during the period. Q Global Advisors LLC purchased a new position in shares of Cumulus Media during the first quarter worth about $191,000. Finally, Zazove Associates LLC raised its position in shares of Cumulus Media by 2.9% in the first quarter. Zazove Associates LLC now owns 700,576 shares of the company’s stock worth $225,000 after buying an additional 20,000 shares during the last quarter. 67.01% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “Cumulus Media Inc. (CMLS) Releases Quarterly Earnings Results, Beats Expectations By $0.38 EPS” was posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.chaffeybreeze.com/2017/06/17/cumulus-media-inc-cmls-posts-earnings-results-beats-estimates-by-0-38-eps-updated-updated-updated.html.
Several brokerages have weighed in on CMLS. Zacks Investment Research upgraded Cumulus Media from a “hold” rating to a “buy” rating and set a $0.50 target price on the stock in a research note on Friday, June 2nd. Noble Financial reiterated a “hold” rating on shares of Cumulus Media in a research note on Thursday, May 18th.
Cumulus Media Company Profile
Cumulus Media Inc (Cumulus) is a radio broadcasting company. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees.
Receive News & Ratings for Cumulus Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cumulus Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.