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

Cumulus Media Inc. (NASDAQ:CMLS) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 106,000 shares, a decline of 12.8% from the December 15th total of 121,500 shares. Based on an average daily trading volume, of 64,100 shares, the short-interest ratio is presently 1.7 days. Approximately 0.8% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Cumulus Media

A hedge fund recently bought a new stake in Cumulus Media stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cumulus Media Inc. (NASDAQ:CMLS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent quarter. 48.68% of the stock is owned by institutional investors.

Cumulus Media Stock Performance

CMLS stock traded down $0.03 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 quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. Cumulus Media has a 1-year low of $0.63 and a 1-year high of $5.18. The stock has a fifty day moving average of $0.76 and a 200-day moving average of $1.27.

Cumulus Media (NASDAQ:CMLS) last announced its quarterly earnings data 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, research analysts expect that Cumulus Media will post -2.71 EPS for the current year.

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.