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

Cumulus Media Inc. (NASDAQ:CMLS) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 187,600 shares, a decline of 14.0% from the July 15th total of 218,100 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 36,500 shares, the days-to-cover ratio is currently 5.1 days.

Cumulus Media Price Performance

NASDAQ CMLS traded up $0.08 during trading hours on Friday, reaching $1.64. The company’s stock had a trading volume of 18,842 shares, compared to its average volume of 52,878. The firm has a market capitalization of $27.69 million, a price-to-earnings ratio of -0.25 and a beta of 1.47. Cumulus Media has a 1-year low of $1.29 and a 1-year high of $5.51. 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 company’s 50-day moving average is $1.90 and its two-hundred day moving average is $2.79.

Cumulus Media (NASDAQ:CMLS) last released its quarterly earnings results on Friday, August 2nd. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.19). The business had revenue of $204.85 million during the quarter, compared to analyst estimates of $206.00 million. Cumulus Media had a negative return on equity of 16.78% and a negative net margin of 13.18%. During the same period in the previous year, the company posted ($0.06) EPS. On average, equities analysts predict that Cumulus Media will post -1.91 EPS for the current year.

Institutional Investors Weigh In On Cumulus Media

Large investors have recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in Cumulus Media during the 4th quarter worth approximately $57,000. Empowered Funds LLC purchased a new stake in Cumulus Media during the 1st quarter worth approximately $54,000. First Eagle Investment Management LLC purchased a new stake in shares of Cumulus Media in the fourth quarter valued at approximately $117,000. Balanced Rock Investment Advisors LLC grew its position in shares of Cumulus Media by 24.5% in the first quarter. Balanced Rock Investment Advisors LLC now owns 80,351 shares of the company’s stock valued at $288,000 after purchasing an additional 15,820 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Cumulus Media in the first quarter valued at approximately $303,000. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Cumulus Media in a report on Saturday. They issued a “hold” rating for the company.

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.