Short Interest in Cumulus Media Inc. (NASDAQ:CMLS) Grows By 58.9%

Cumulus Media Inc. (NASDAQ:CMLS) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 158,900 shares, an increase of 58.9% from the February 28th total of 100,000 shares. Currently, 1.3% of the shares of the stock are short sold. Based on an average trading volume of 91,300 shares, the short-interest ratio is currently 1.7 days.

Institutional Investors Weigh In On Cumulus Media

Institutional investors have recently added to or reduced their stakes in the business. Zazove Associates LLC lifted its stake in shares of Cumulus Media by 4.8% in the fourth quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock worth $1,024,000 after acquiring an additional 70,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Cumulus Media in the third quarter valued at approximately $25,000. Finally, Garden State Investment Advisory Services LLC bought a new stake in Cumulus Media during the 3rd quarter valued at $191,000. 48.68% of the stock is owned by institutional investors.

Cumulus Media Price Performance

Shares of NASDAQ:CMLS traded down $0.03 during trading on Friday, hitting $0.47. 500,583 shares of the company were exchanged, compared to its average volume of 65,716. The company has a market capitalization of $8.15 million, a P/E ratio of -0.05 and a beta of 1.37. 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 business’s 50 day moving average is $0.72 and its 200-day moving average is $0.90. Cumulus Media has a 1-year low of $0.41 and a 1-year high of $3.61.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of 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.