Cumulus Media Inc. (NASDAQ:CMLS – Get Free Report) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 241,300 shares, a decrease of 7.2% from the June 15th total of 260,000 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 38,800 shares, the days-to-cover ratio is presently 6.2 days.
Hedge Funds Weigh In On Cumulus Media
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ritholtz Wealth Management purchased a new position in shares of Cumulus Media in the fourth quarter worth $145,000. Exchange Traded Concepts LLC purchased a new position in Cumulus Media in the 4th quarter worth about $268,000. Quadrature Capital Ltd bought a new position in Cumulus Media during the 4th quarter valued at about $57,000. First Eagle Investment Management LLC purchased a new stake in shares of Cumulus Media during the 4th quarter valued at about $117,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cumulus Media during the 1st quarter valued at about $303,000. 48.68% of the stock is owned by institutional investors.
Cumulus Media Stock Down 0.9 %
CMLS stock traded down $0.02 on Thursday, reaching $2.12. 8,487 shares of the company traded hands, compared to its average volume of 54,760. The firm has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $3.27. Cumulus Media has a one year low of $1.78 and a one year high of $6.59. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 3.22.
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.
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