Cumulus Media Inc. (NASDAQ:CMLS) Sees Large Drop in Short Interest

by · The Markets Daily

Cumulus Media Inc. (NASDAQ:CMLS – Get Free Report) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 122,900 shares, a decline of 22.7% from the March 15th total of 158,900 shares. Based on an average daily volume of 225,400 shares, the short-interest ratio is currently 0.5 days. Approximately 1.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Cumulus Media

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMLS. Zazove Associates LLC boosted its stake in shares of Cumulus Media by 4.8% in the 4th quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock worth $1,024,000 after buying an additional 70,000 shares during the last quarter. Garden State Investment Advisory Services LLC bought a new stake in Cumulus Media during the third quarter worth $191,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Cumulus Media in the third quarter worth $25,000. Hedge funds and other institutional investors own 48.68% of the company’s stock.

Cumulus Media Stock Up 4.6 %

CMLS traded up $0.01 during mid-day trading on Friday, reaching $0.25. 276,628 shares of the stock were exchanged, compared to its average volume of 114,715. Cumulus Media has a 1 year low of $0.23 and a 1 year high of $3.34. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. The stock has a market capitalization of $4.31 million, a PE ratio of -0.03 and a beta of 1.17. The company has a 50 day moving average price of $0.54 and a two-hundred day moving average price of $0.77.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Cumulus Media in a research note on Monday, April 14th. They issued a “hold” rating for the company.

Check Out Our Latest Stock Analysis on Cumulus Media

Cumulus Media Company Profile

(Get Free Report)

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.

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