Cumulus Media Inc (NASDAQ:CMLS) Short Interest Down 9.9% in July
Cumulus Media Inc (NASDAQ:CMLS) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 451,800 shares, a decrease of 9.9% from the June 30th total of 501,300 shares. Based on an average daily trading volume, of 113,600 shares, the short-interest ratio is presently 4.0 days. Approximately 3.6% of the company’s stock are short sold.
Shares of CMLS stock traded down $0.85 during trading hours on Wednesday, reaching $13.96. 3,335 shares of the stock were exchanged, compared to its average volume of 74,003. The stock has a fifty day moving average price of $16.43. The company has a debt-to-equity ratio of 3.37, a current ratio of 3.25 and a quick ratio of 3.25. Cumulus Media has a 12-month low of $9.70 and a 12-month high of $20.99. The stock has a market cap of $245.52 million and a price-to-earnings ratio of 3.68.
Cumulus Media (NASDAQ:CMLS) last released its earnings results on Thursday, August 8th. The company reported $2.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.53. Cumulus Media had a net margin of 8.76% and a return on equity of 21.26%. The firm had revenue of $279.67 million for the quarter, compared to analyst estimates of $284.13 million. As a group, research analysts predict that Cumulus Media will post 2.73 EPS for the current year.
Institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cumulus Media in the first quarter worth $30,000. Spark Investment Management LLC bought a new position in shares of Cumulus Media during the first quarter worth $189,000. Marshall Wace LLP bought a new position in shares of Cumulus Media during the first quarter worth $374,000. Benefit Street Partners LLC bought a new position in shares of Cumulus Media during the first quarter worth $894,000. Finally, Strs Ohio bought a new position in shares of Cumulus Media during the second quarter worth $639,000. Institutional investors own 78.28% of the company’s stock.
About Cumulus Media
Cumulus Media Inc owns and operates radio stations in the United States. The company operates through two segments, Cumulus Radio Station Group and Westwood One. It sells broadcasting time on its owned or operated stations to local, regional, and national advertisers; and network advertising. The company offers content through approximately 433 owned-and-operated stations in 88 United States media markets; and approximately 8,000 broadcast radio stations affiliates and various digital channels.
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