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

Cumulus Media Inc. (NASDAQ:CMLS) saw a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 217,300 shares, a growth of 15.8% from the July 31st total of 187,600 shares. Based on an average trading volume of 34,400 shares, the short-interest ratio is presently 6.3 days. Currently, 1.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Cumulus Media in a research report on Monday. They set a “hold” rating on the stock.

Cumulus Media Trading Down 1.8 %

CMLS stock traded down $0.03 during trading on Monday, hitting $1.66. The company had a trading volume of 13,400 shares, compared to its average volume of 51,223. The business has a 50-day moving average of $1.83 and a 200-day moving average of $2.57. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 3.55. Cumulus Media has a one year low of $1.29 and a one year high of $5.51. The stock has a market cap of $28.12 million, a PE ratio of -0.25 and a beta of 1.47.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings results on Friday, August 2nd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.19). The business had revenue of $204.85 million during the quarter, compared to analyst estimates of $206.00 million. Cumulus Media had a negative net margin of 16.46% and a negative return on equity of 22.15%. During the same period last year, the firm posted ($0.06) earnings per share. Research analysts predict that Cumulus Media will post -2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cumulus Media

Institutional investors have recently made changes to their positions in the stock. Balanced Rock Investment Advisors LLC raised its holdings in shares of Cumulus Media by 12.7% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after acquiring an additional 10,228 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Cumulus Media during the 4th quarter worth approximately $57,000. Empowered Funds LLC bought a new position in Cumulus Media during the first quarter valued at about $54,000. Acadian Asset Management LLC boosted its stake in Cumulus Media by 3.9% in the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after acquiring an additional 15,920 shares during the last quarter. Finally, First Eagle Investment Management LLC purchased a new stake in shares of Cumulus Media during the 4th quarter worth approximately $117,000. Institutional investors and hedge funds own 48.68% of the company’s stock.

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.