Today’s Shorts Alert: What’s Next for Cumulus Media Incorporated (NASDAQ:CMLS) After Having More Shares Shorted?

November 29, 2016 - By Pete Kolinski   ·   0 Comments

Today's Shorts Alert: What's Next for Cumulus Media Incorporated (NASDAQ:CMLS) After Having More Shares Shorted?

The stock of Cumulus Media Incorporated (NASDAQ:CMLS) registered an increase of 19.87% in short interest. CMLS’s total short interest was 283,500 shares in November as published by FINRA. Its up 19.87% from 236,500 shares, reported previously. With 75,000 shares average volume, it will take short sellers 4 days to cover their CMLS’s short positions. The short interest to Cumulus Media Incorporated’s float is 1.6%. About 61,367 shares traded hands. Cumulus Media Inc (NASDAQ:CMLS) has declined 58.13% since April 26, 2016 and is downtrending. It has underperformed by 63.38% the S&P500.

Cumulus Media Inc. is a radio broadcasting company. The company has a market cap of $39.58 million. The Firm is also a well-known provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine and live events. It has a 1.34 P/E ratio. The Company’s product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees.

Insitutional Activity: The institutional sentiment decreased to 0.38 in 2016 Q2. Its down 0.03, from 0.41 in 2016Q1. The ratio dropped, as 24 funds sold all Cumulus Media Inc shares owned while 30 reduced positions. 15 funds bought stakes while 7 increased positions. They now own 171.16 million shares or 5.71% less from 181.51 million shares in 2016Q1.
Credit Suisse Ag accumulated 0% or 175,806 shares. York Cap Mngmt Glob Limited Liability Corp last reported 56,187 shares in the company. Parametric Portfolio Associates has 0% invested in the company for 150,886 shares. Citadel Advisors Ltd Co last reported 65,023 shares in the company. New Jersey Better Educational Savings Trust reported 260,000 shares or 0.05% of all its holdings. The United Kingdom-based Lmr Llp has invested 0.01% in Cumulus Media Inc (NASDAQ:CMLS). Ares Management Ltd Liability Company last reported 9.97M shares in the company. Marshwinds Advisory Co accumulated 0% or 10,000 shares. Us Bancshares De has 0% invested in the company for 6,500 shares. State Street holds 57,068 shares or 0% of its portfolio. Symphony Asset Mgmt Lc has 0% invested in the company for 20,612 shares. Vanguard Grp Inc Incorporated has 5.12M shares for 0% of their US portfolio. Renaissance Technology Ltd Company reported 208,358 shares or 0% of all its holdings. Deutsche Commercial Bank Ag last reported 14,728 shares in the company. The California-based California Public Employees Retirement System has invested 0% in Cumulus Media Inc (NASDAQ:CMLS).

Cumulus Media Inc (NASDAQ:CMLS) Ratings Coverage

Out of 4 analysts covering Cumulus Media (NASDAQ:CMLS), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. Cumulus Media has been the topic of 5 analyst reports since October 26, 2015 according to StockzIntelligence Inc. The rating was maintained by Ascendiant Capital on Monday, March 14 with “Buy”. Macquarie Research downgraded the shares of CMLS in a report on Monday, October 26 to “Neutral” rating. The stock has “Sector Perform” rating given by RBC Capital Markets on Monday, November 9. The stock of Cumulus Media Inc (NASDAQ:CMLS) earned “Sector Perform” rating by RBC Capital Markets on Friday, October 30. Noble Financial downgraded the shares of CMLS in a report on Friday, March 11 to “Hold” rating.

CMLS Company Profile

Cumulus Media Inc. (Cumulus), incorporated on November 8, 2001, is a radio broadcasting company. The Firm is also a well-known provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH Country Weekly magazine, video and live events. The Company’s across the nation platform generates content distributable through both broadcast and digital platforms. The Company’s categories of advertisers consist of amusement and recreation; banking and mortgage; furniture and home furnishings; arts and entertainment; food and beverage services; healthcare services; automotive dealers; food and beverage stores, and telecommunications. The Company’s product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees.

More news for Cumulus Media Inc (NASDAQ:CMLS) were recently published by: Moodys.com, which released: “Moody’s downgrades Cumulus Media to B3 from B2; outlook stable” on September 15, 2015. Globenewswire.com‘s article titled: “Cumulus Media Inc. Announces Conference Call To Discuss Second Quarter 2016 …” and published on July 28, 2016 is yet another important article.

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By Pete Kolinski


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