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

Cumulus Media Inc. (NASDAQ:CMLS) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 218,100 shares, a decline of 9.6% from the June 30th total of 241,300 shares. Based on an average daily volume of 38,100 shares, the days-to-cover ratio is currently 5.7 days. Approximately 1.7% of the company’s shares are short sold.

Cumulus Media Trading Down 0.5 %

Shares of Cumulus Media stock traded down $0.01 during trading hours on Thursday, hitting $1.99. The company’s stock had a trading volume of 38,049 shares, compared to its average volume of 53,472. The company has a market capitalization of $33.61 million, a PE ratio of -0.29 and a beta of 1.47. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a 50 day moving average of $2.08 and a 200 day moving average of $3.06. Cumulus Media has a 12 month low of $1.78 and a 12 month high of $5.60.

Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Friday, May 3rd. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.33) by $0.48. The business had revenue of $200.05 million during the quarter, compared to analyst estimates of $200.30 million. Cumulus Media had a negative return on equity of 16.78% and a negative net margin of 13.18%. Analysts predict that Cumulus Media will post -1.91 earnings per share for the current year.

Institutional Investors Weigh In On Cumulus Media

Several large investors have recently made changes to their positions in CMLS. Empowered Funds LLC bought a new stake in shares of Cumulus Media in the first quarter valued at about $54,000. Quadrature Capital Ltd acquired a new position in Cumulus Media during the 4th quarter worth approximately $57,000. First Eagle Investment Management LLC acquired a new position in Cumulus Media during the 4th quarter worth approximately $117,000. Ritholtz Wealth Management bought a new position in shares of Cumulus Media during the 4th quarter worth approximately $145,000. Finally, Balanced Rock Investment Advisors LLC raised its holdings in shares of Cumulus Media by 12.7% in the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after purchasing an additional 10,228 shares during the last quarter. Institutional investors own 48.68% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Cumulus Media in a research 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.