Cumulus Media Inc. (NASDAQ:CMLS) Sees Significant Decline in Short Interest

Cumulus Media Inc. (NASDAQ:CMLS) was the recipient of a large decrease in short interest in 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 daily volume of 64,100 shares, the short-interest ratio is presently 1.7 days. Approximately 0.8% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Cumulus Media in a research note on Thursday. They set a “hold” rating for the company.

Cumulus Media Stock Performance

Shares of NASDAQ:CMLS traded down $0.03 during trading on Friday, reaching $0.84. The company had a trading volume of 4,560 shares, compared to its average volume of 64,993. Cumulus Media has a fifty-two week low of $0.63 and a fifty-two week high of $5.18. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.89 and a quick ratio of 1.89. The stock’s fifty day moving average price is $0.76 and its 200 day moving average price is $1.27. The firm has a market capitalization of $14.27 million, a price-to-earnings ratio of -0.09 and a beta of 1.32.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The firm had revenue of $203.60 million during 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 period in the prior year, the firm posted $0.16 earnings per share. As a group, equities research analysts predict that Cumulus Media will post -2.71 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cumulus Media stock. Y Intercept Hong Kong Ltd acquired a new position in Cumulus Media Inc. (NASDAQ:CMLS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,272 shares of the company’s stock, valued at approximately $25,000. Y Intercept Hong Kong Ltd owned approximately 0.11% of Cumulus Media as of its most recent filing with the Securities and Exchange Commission (SEC). 48.68% of the stock is currently owned by institutional investors.

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.