Cumulus Media Inc. (NASDAQ:CMLS) Short Interest Update

Cumulus Media Inc. (NASDAQ:CMLS) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 106,000 shares, a decrease of 12.8% from the December 15th total of 121,500 shares. Based on an average trading volume of 64,100 shares, the short-interest ratio is currently 1.7 days. Approximately 0.8% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Cumulus Media in a research report on Thursday. They set a “hold” rating on the stock.

Cumulus Media Stock Performance

Shares of Cumulus Media stock traded down $0.03 during trading on Friday, hitting $0.84. 4,560 shares of the company’s stock traded hands, compared to its average volume of 64,993. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.89 and a quick ratio of 1.89. Cumulus Media has a 1 year low of $0.63 and a 1 year high of $5.18. The stock has a market capitalization of $14.27 million, a P/E ratio of -0.09 and a beta of 1.32. The business has a 50-day simple moving average of $0.76 and a 200-day simple moving average of $1.27.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings data on Friday, November 1st. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.07). Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. The business had revenue of $203.60 million for the quarter, compared to analysts’ expectations of $204.05 million. During the same period last year, the business earned $0.16 earnings per share. As a group, analysts forecast that Cumulus Media will post -2.71 EPS for the current year.

Institutional Investors Weigh In On Cumulus Media

A hedge fund recently bought a new stake in Cumulus Media stock. Garden State Investment Advisory Services LLC bought a new stake in Cumulus Media Inc. (NASDAQ:CMLS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 145,500 shares of the company’s stock, valued at approximately $191,000. Garden State Investment Advisory Services LLC owned 0.86% of Cumulus Media as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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.