Short Interest in Cumulus Media Inc. (NASDAQ:CMLS) Declines By 12.8%

Cumulus Media Inc. (NASDAQ:CMLS) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 106,000 shares, a decrease of 12.8% from the December 15th total of 121,500 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 64,100 shares, the short-interest ratio is currently 1.7 days.

Institutional Trading of Cumulus Media

A hedge fund recently bought a new stake in Cumulus Media stock. Garden State Investment Advisory Services LLC purchased a new position in shares of Cumulus Media Inc. (NASDAQ:CMLS) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 145,500 shares of the company’s stock, valued at approximately $191,000. Garden State Investment Advisory Services LLC owned approximately 0.86% of Cumulus Media at the end of the most recent reporting period. 48.68% of the stock is owned by hedge funds and other institutional investors.

Cumulus Media Stock Down 3.4 %

Shares of NASDAQ CMLS traded down $0.03 during mid-day trading on Friday, reaching $0.84. The company had a trading volume of 4,560 shares, compared to its average volume of 64,993. The stock has a fifty day moving average of $0.76 and a two-hundred day moving average of $1.27. Cumulus Media has a 12-month low of $0.63 and a 12-month high of $5.18. 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 (NASDAQ:CMLS) last released its earnings results on Friday, November 1st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $203.60 million during the quarter, compared to analysts’ expectations of $204.05 million. During the same quarter in the previous year, the company earned $0.16 EPS. As a group, research analysts forecast that Cumulus Media will post -2.71 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Cumulus Media in a report on Thursday. They set 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.