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

Cumulus Media Inc. (NASDAQ:CMLS) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 158,900 shares, a growth of 58.9% from the February 28th total of 100,000 shares. Based on an average daily trading volume, of 91,300 shares, the short-interest ratio is presently 1.7 days. Currently, 1.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Cumulus Media in a research note on Saturday. They set a “hold” rating for the company.

Institutional Investors Weigh In On Cumulus Media

A number of hedge funds have recently added to or reduced their stakes in CMLS. Garden State Investment Advisory Services LLC acquired a new position in Cumulus Media during the 3rd quarter worth approximately $191,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cumulus Media in the third quarter valued at approximately $25,000. Finally, Zazove Associates LLC boosted its stake in shares of Cumulus Media by 4.8% in the fourth quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock valued at $1,024,000 after buying an additional 70,000 shares in the last quarter. Institutional investors and hedge funds own 48.68% of the company’s stock.

Cumulus Media Stock Performance

Shares of Cumulus Media stock traded down $0.03 during trading hours on Friday, hitting $0.47. 500,583 shares of the company were exchanged, compared to its average volume of 65,716. The business has a 50-day moving average of $0.72 and a 200-day moving average of $0.90. Cumulus Media has a 1 year low of $0.41 and a 1 year high of $3.61. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 3.68. The stock has a market capitalization of $8.15 million, a price-to-earnings ratio of -0.05 and a beta of 1.37.

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.