Short Interest in Cumulus Media Inc. (NASDAQ:CMLS) Increases By 16.0%

Cumulus Media Inc. (NASDAQ:CMLS) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 173,600 shares, a growth of 16.0% from the October 31st total of 149,700 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 50,900 shares, the short-interest ratio is currently 3.4 days.

Cumulus Media Price Performance

Shares of NASDAQ CMLS traded down $0.03 during mid-day trading on Tuesday, reaching $0.75. The company’s stock had a trading volume of 109,750 shares, compared to its average volume of 60,773. 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 $0.68 and a 52 week high of $5.51. The stock has a fifty day moving average of $1.05 and a two-hundred day moving average of $1.60. The firm has a market capitalization of $12.73 million, a PE ratio of -0.08 and a beta of 1.31.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings data 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). The company had revenue of $203.60 million for the quarter, compared to the consensus estimate of $204.05 million. Cumulus Media had a negative net margin of 18.11% and a negative return on equity of 30.27%. During the same quarter in the previous year, the business earned $0.16 EPS. As a group, sell-side analysts anticipate that Cumulus Media will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Cumulus Media in a research report on Friday. They set a “hold” rating for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Balanced Rock Investment Advisors LLC lifted its stake in Cumulus Media by 12.7% in the second quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock worth $185,000 after purchasing an additional 10,228 shares during the last quarter. 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. Y Intercept Hong Kong Ltd purchased a new stake in Cumulus Media during the third quarter valued at approximately $25,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Cumulus Media in the 1st quarter worth $303,000. Finally, Garden State Investment Advisory Services LLC purchased a new stake in shares of Cumulus Media during the third quarter worth about $191,000. 48.68% of the stock is currently owned by institutional investors.

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.