Cumulus Media (CMLS) : Traders are negative on Cumulus Media (CMLS), as it has 1.4% of short positions outstanding compared to its float. The total shorts have reduced by -164,326 shares, which is a -7.4% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,2,210,388 to 2,046,062 shares. While the daily trading volume of the stock is 446,034, there are 5 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Cumulus Media (NASDAQ:CMLS): The stock opened at $0.39 on Wednesday but the bulls could not build on the opening and the stock topped out at $0.41 for the day. The stock traded down to $0.37 during the day, due to lack of any buying support eventually closed down at $0.37 with a loss of -3.34% for the day. The stock had closed at $0.39 on the previous day. The total traded volume was 330,106 shares.
In a related news, The officer (EVP/Content & Programming), of Cumulus Media Inc, Dickey John W had unloaded 35,000 shares at $1.44 per share in a transaction on August 28, 2015. The total value of transaction was $50,400. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Cumulus Media Inc. is a radio broadcaster in the United States. The Company is also a provider of country music and lifestyle content through its NASH brand, which serves through radio programming, NASH magazine, concerts, licensed products, and television or video. The Companys 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 and telecommunications. Its product lines include broadcast advertising, digital advertising, political advertising and non-advertising based license fees. Its brands include Sweetjack, SweetDeals and Incentrev brands. It provides content that is distributed through over 460 owned and operated stations in approximately 90 the United States media markets, over 8,500 broadcast radio affiliates and digital channels. It provides sales and marketing services for 11 radio stations in the United States.