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

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its holdings in Cumulus Media by 3.9% in the 2nd quarter. Acadian Asset Management LLC now owns 426,220 shares of the company’s stock valued at $868,000 after acquiring an additional 15,920 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Cumulus Media in the 1st quarter valued at about $303,000. Balanced Rock Investment Advisors LLC raised its holdings in Cumulus Media by 12.7% in the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 90,579 shares of the company’s stock valued at $185,000 after acquiring an additional 10,228 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Cumulus Media in the 3rd quarter valued at about $25,000. Finally, Garden State Investment Advisory Services LLC bought a new position in Cumulus Media in the 3rd quarter valued at about $191,000. 48.68% of the stock is owned by institutional investors.

Cumulus Media Price Performance

Shares of CMLS stock traded up $0.02 on Friday, reaching $0.78. The stock had a trading volume of 26,933 shares, compared to its average volume of 72,616. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 3.68. The firm’s 50-day moving average is $1.08 and its two-hundred day moving average is $1.64. Cumulus Media has a 12 month low of $0.68 and a 12 month high of $5.51.

Cumulus Media (NASDAQ:CMLS) last issued 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). The firm had revenue of $203.60 million during 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 period in the previous year, the company posted $0.16 earnings per share. On average, equities research analysts predict that Cumulus Media will post -2.71 earnings per share for the current year.

Analyst Ratings Changes

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

About Cumulus Media

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.