Cumulus Media Inc. (NASDAQ:CMLS) Short Interest Down 9.6% in July

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CMLS. Empowered Funds LLC bought a new position in shares of Cumulus Media in the 1st quarter worth $54,000. Quadrature Capital Ltd acquired a new stake in shares of Cumulus Media during the fourth quarter worth $57,000. First Eagle Investment Management LLC purchased a new stake in Cumulus Media during the 4th quarter valued at about $117,000. Ritholtz Wealth Management purchased a new stake in Cumulus Media during the 4th quarter valued at about $145,000. Finally, Balanced Rock Investment Advisors LLC increased 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 period. Institutional investors own 48.68% of the company’s stock.

Cumulus Media Stock Performance

Shares of Cumulus Media stock traded down $0.01 on Thursday, hitting $1.99. 38,049 shares of the company’s stock were exchanged, compared to its average volume of 53,472. The company has a 50-day simple moving average of $2.08 and a 200-day simple moving average of $3.06. Cumulus Media has a 1 year low of $1.78 and a 1 year high of $5.60. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market capitalization of $33.61 million, a PE ratio of -0.29 and a beta of 1.47.

Cumulus Media (NASDAQ:CMLS) last posted its earnings results on Friday, May 3rd. The company reported ($0.85) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.33) by $0.48. Cumulus Media had a negative net margin of 13.18% and a negative return on equity of 16.78%. The firm had revenue of $200.05 million during the quarter, compared to analyst estimates of $200.30 million. As a group, equities analysts anticipate that Cumulus Media will post -1.91 EPS for the current year.

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.