Cumulus Media Inc. (NASDAQ:CMLS) Short Interest Up 19.9% in March

Cumulus Media Inc. (NASDAQ:CMLS - Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 293,900 shares, an increase of 19.9% from the March 15th total of 245,200 shares. Based on an average daily volume of 72,700 shares, the days-to-cover ratio is presently 4.0 days. Currently, 2.5% of the company's stock are short sold.

Cumulus Media Stock Performance

NASDAQ:CMLS traded down $0.06 during mid-day trading on Friday, reaching $3.12. The company's stock had a trading volume of 53,765 shares, compared to its average volume of 78,976. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 3.06. The stock has a market cap of $52.01 million, a P/E ratio of -0.45 and a beta of 1.49. The firm's fifty day moving average price is $3.65 and its two-hundred day moving average price is $4.54. Cumulus Media has a 12-month low of $2.57 and a 12-month high of $6.59.

Cumulus Media (NASDAQ:CMLS - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($2.60) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($2.01). The company had revenue of $221.30 million for the quarter, compared to analysts' expectations of $220.07 million. Cumulus Media had a negative net margin of 13.96% and a negative return on equity of 17.50%. On average, equities analysts forecast that Cumulus Media will post -1.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Cumulus Media

Hedge funds have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management bought a new stake in shares of Cumulus Media in the fourth quarter worth $145,000. Exchange Traded Concepts LLC bought a new stake in shares of Cumulus Media during the 4th quarter valued at about $268,000. O Shaughnessy Asset Management LLC increased its position in shares of Cumulus Media by 40.8% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 28,538 shares of the company's stock valued at $145,000 after purchasing an additional 8,265 shares during the last quarter. EJF Capital LLC lifted its stake in shares of Cumulus Media by 28.5% in the 3rd quarter. EJF Capital LLC now owns 86,768 shares of the company's stock worth $442,000 after purchasing an additional 19,268 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Cumulus Media by 19.8% in the third quarter. Acadian Asset Management LLC now owns 323,076 shares of the company's stock worth $1,643,000 after buying an additional 53,306 shares during the last quarter. 48.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CMLS shares. Noble Financial reiterated a "market perform" rating on shares of Cumulus Media in a research note on Wednesday, February 28th. Barrington Research cut Cumulus Media from an "outperform" rating to a "market perform" rating in a research report on Wednesday, February 28th.

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.

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