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

Cumulus Media Inc. (NASDAQ:CMLS) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 199,500 shares, a decrease of 5.8% from the August 31st total of 211,700 shares. Based on an average trading volume of 32,300 shares, the short-interest ratio is presently 6.2 days. Approximately 1.5% of the company’s shares are short sold.

Hedge Funds Weigh In On Cumulus Media

A number of large investors have recently bought and sold shares of CMLS. Balanced Rock Investment Advisors LLC boosted its position in Cumulus Media by 12.7% during the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after acquiring an additional 10,228 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Cumulus Media during the fourth quarter valued at about $57,000. Empowered Funds LLC purchased a new position in Cumulus Media in the first quarter valued at about $54,000. Acadian Asset Management LLC raised its holdings in Cumulus Media by 3.9% in the second quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock worth $868,000 after purchasing an additional 15,920 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cumulus Media during the first quarter valued at about $303,000. Institutional investors own 48.68% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Cumulus Media in a report on Thursday, September 26th. They issued a “hold” rating for the company.

Cumulus Media Stock Performance

Shares of Cumulus Media stock opened at $1.29 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 3.55. The stock’s fifty day moving average price is $1.63 and its 200-day moving average price is $2.25. The firm has a market cap of $21.78 million, a P/E ratio of -0.19 and a beta of 1.45. Cumulus Media has a 12 month low of $1.29 and a 12 month high of $5.51.

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

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.