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

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

Institutional Trading of Cumulus Media

An institutional investor recently bought a new position in Cumulus Media stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cumulus Media Inc. (NASDAQ:CMLS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 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 reporting period. Hedge funds and other institutional investors own 48.68% of the company’s stock.

Cumulus Media Price Performance

Shares of NASDAQ:CMLS traded down $0.03 during trading on Friday, hitting $0.84. 4,560 shares of the company’s stock were exchanged, compared to its average volume of 64,993. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.89 and a quick ratio of 1.89. Cumulus Media has a 52-week low of $0.63 and a 52-week high of $5.18. The business’s 50-day simple moving average is $0.76 and its 200 day simple moving average is $1.27. The company has a market cap of $14.27 million, a price-to-earnings ratio of -0.09 and a beta of 1.32.

Cumulus Media (NASDAQ:CMLS) last released its earnings results on Friday, November 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.07). Cumulus Media had a negative return on equity of 30.27% and a negative net margin of 18.11%. The business had revenue of $203.60 million for the quarter, compared to analysts’ expectations of $204.05 million. During the same quarter in the prior year, the business posted $0.16 EPS. As a group, equities analysts predict that Cumulus Media will post -2.71 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Cumulus Media in a research note on Thursday. They issued a “hold” rating on the 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.