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

Cumulus Media Inc. (NASDAQ:CMLSGet Rating) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totalling 55,400 shares, a decrease of 50.8% from the April 15th total of 112,600 shares. Based on an average trading volume of 116,200 shares, the short-interest ratio is currently 0.5 days. Currently, 0.3% of the shares of the stock are sold short.

In related news, insider David Edward Milner sold 3,000 shares of the stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $13.62, for a total value of $40,860.00. Following the sale, the insider now directly owns 81,062 shares of the company’s stock, valued at approximately $1,104,064.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Richard Denning sold 2,500 shares of the stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $13.71, for a total transaction of $34,275.00. Following the completion of the sale, the executive vice president now directly owns 78,252 shares in the company, valued at $1,072,834.92. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CMLS. BNP Paribas Arbitrage SA increased its position in Cumulus Media by 2,355.0% during the 4th quarter. BNP Paribas Arbitrage SA now owns 4,198 shares of the company’s stock worth $47,000 after purchasing an additional 4,027 shares in the last quarter. Ancora Advisors LLC acquired a new stake in Cumulus Media during the 3rd quarter worth approximately $109,000. Morgan Stanley acquired a new stake in Cumulus Media during the 1st quarter worth approximately $136,000. Arrowstreet Capital Limited Partnership acquired a new stake in Cumulus Media during the 3rd quarter worth approximately $149,000. Finally, Raymond James & Associates acquired a new stake in Cumulus Media during the 4th quarter worth approximately $175,000. 70.90% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Cumulus Media from a “strong sell” rating to a “hold” rating and set a $18.00 target price on the stock in a report on Thursday, May 5th. Barrington Research assumed coverage on shares of Cumulus Media in a report on Thursday, May 5th. They issued an “outperform” rating and a $21.00 target price on the stock. B. Riley upped their target price on shares of Cumulus Media from $23.00 to $26.00 in a report on Thursday, February 24th. Finally, StockNews.com assumed coverage on shares of Cumulus Media in a report on Tuesday, April 19th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cumulus Media currently has a consensus rating of “Buy” and a consensus target price of $23.00.

Shares of CMLS stock opened at $13.25 on Friday. The firm has a market cap of $273.16 million, a P/E ratio of 7.24 and a beta of 1.42. Cumulus Media has a 1-year low of $9.42 and a 1-year high of $15.67. The company has a debt-to-equity ratio of 2.40, a current ratio of 2.89 and a quick ratio of 2.91. The firm’s 50-day simple moving average is $11.99 and its 200-day simple moving average is $11.64.

Cumulus Media (NASDAQ:CMLSGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.53). The company had revenue of $252.30 million for the quarter, compared to analysts’ expectations of $253.65 million. Cumulus Media had a return on equity of 3.63% and a net margin of 4.04%. During the same quarter in the previous year, the company earned ($0.01) earnings per share. Analysts expect that Cumulus Media will post 2.05 earnings per share for the current fiscal year.

About Cumulus Media (Get Rating)

Cumulus Media Inc, an audio-first media company, owns and operates radio stations in the United States. It owns and operates 406 stations in 86 markets, as well as approximately 9,500 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, the AP, the Academy of Country Music Awards, and other partners.

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