Cumulus Media Short Interest Up 12.6% in August (CMLS)
Shares of Cumulus Media (NASDAQ:CMLS) were the recipient of a large increase in short interest in August. As of August 15th, there was short interest totalling 14,011,174 shares, an increase of 12.6% from the July 31st total of 12,444,591 shares, StockRatingsNetwork reports. Approximately 11.6% of the company’s stock are sold short. Based on an average trading volume of 3,488,523 shares, the short-interest ratio is currently 4.0 days.
A number of research firms have recently commented on CMLS. Analysts at RBC Capital cut their price target on shares of Cumulus Media from $9.00 to $6.00 in a research note on Friday, August 8th. Analysts at Sidoti initiated coverage on shares of Cumulus Media in a research note on Thursday, June 19th. They set a “buy” rating on the stock.
Cumulus Media (NASDAQ:CMLS) opened at 4.59 on Monday. Cumulus Media has a 1-year low of $4.15 and a 1-year high of $8.19. The stock’s 50-day moving average is $5.12 and its 200-day moving average is $6.15. The company has a market cap of $1.065 billion and a P/E ratio of 6.35.
Cumulus Media (NASDAQ:CMLS) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.07. The company had revenue of $328.20 million for the quarter, compared to the consensus estimate of $330.55 million. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, analysts predict that Cumulus Media will post $0.24 earnings per share for the current fiscal year.
Cumulus Media Inc (NASDAQ:CMLS) owns and operates commercial radio station clusters throughout the United States.
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