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

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Cumulus Media in the third quarter worth $25,000. Zazove Associates LLC increased its position in Cumulus Media by 4.8% during the 4th quarter. Zazove Associates LLC now owns 1,528,428 shares of the company’s stock worth $1,024,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC acquired a new position in Cumulus Media in the 3rd quarter valued at about $191,000. 48.68% of the stock is currently owned by institutional investors and hedge funds.

Cumulus Media Price Performance

CMLS traded down $0.03 during midday trading on Friday, reaching $0.47. 500,583 shares of the company’s stock were exchanged, compared to its average volume of 65,716. Cumulus Media has a 1-year low of $0.41 and a 1-year high of $3.61. The stock has a market capitalization of $8.15 million, a PE ratio of -0.05 and a beta of 1.37. The company has a debt-to-equity ratio of 3.68, a current ratio of 1.89 and a quick ratio of 1.89. The business’s 50-day moving average price is $0.72 and its 200 day moving average price is $0.90.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Cumulus Media in a research note on Saturday. They set 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.