Cumulus Media Inc. (NASDAQ:CMLS – Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 122,900 shares, a decline of 22.7% from the March 15th total of 158,900 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily volume of 225,400 shares, the days-to-cover ratio is currently 0.5 days.
Cumulus Media Trading Up 3.1 %
Shares of Cumulus Media stock traded up $0.01 during trading on Monday, hitting $0.26. The stock had a trading volume of 64,656 shares, compared to its average volume of 114,516. 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 company has a market capitalization of $4.44 million, a PE ratio of -0.03 and a beta of 1.17. Cumulus Media has a 1 year low of $0.23 and a 1 year high of $3.34. The stock has a 50 day simple moving average of $0.54 and a 200 day simple moving average of $0.77.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on Cumulus Media in a research note on Monday, April 14th. They set a “hold” rating for the company.
Institutional Trading of Cumulus Media
Several hedge funds and other institutional investors have recently modified their holdings of CMLS. Y Intercept Hong Kong Ltd purchased a new position in Cumulus Media during the 3rd quarter valued at about $25,000. Garden State Investment Advisory Services LLC purchased a new position in shares of Cumulus Media during the 3rd quarter valued at $191,000. Finally, Zazove Associates LLC increased 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 last quarter. Institutional investors and hedge funds own 48.68% of the company’s stock.
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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