Cumulus Media Inc. (NASDAQ:CMLS) Short Interest Up 110.5% in April

Cumulus Media Inc. (NASDAQ:CMLS) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 258,700 shares, a growth of 110.5% from the March 31st total of 122,900 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily volume of 378,800 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Cumulus Media in a research note on Tuesday, April 22nd. They set a “hold” rating on the stock.

Cumulus Media Trading Up 9.3 %

NASDAQ CMLS traded up $0.02 during trading hours on Monday, hitting $0.22. 335,326 shares of the company’s stock were exchanged, compared to its average volume of 134,286. The firm has a market capitalization of $3.86 million, a P/E ratio of -0.02 and a beta of 1.17. The company has a debt-to-equity ratio of 3.68, a quick ratio of 1.89 and a current ratio of 1.89. The business’s 50 day moving average is $0.47 and its 200-day moving average is $0.73. Cumulus Media has a 12-month low of $0.17 and a 12-month high of $3.34.

Hedge Funds Weigh In On Cumulus Media

An institutional investor recently bought a new position in Cumulus Media stock. Garden State Investment Advisory Services LLC acquired a new position in shares of Cumulus Media Inc. (NASDAQ:CMLS) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 145,500 shares of the company’s stock, valued at approximately $191,000. Garden State Investment Advisory Services LLC owned 0.86% of Cumulus Media as of its most recent SEC filing. 48.68% of the stock is currently owned by institutional investors and hedge funds.

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.