Cumulus Media (NASDAQ:CMLS), A drop of 545,221 shares or 8.4% was seen in the short interest of Cumulus Media Inc.. Even as the interest dropped from 6,511,982 shares on May 31,2016 to 5,966,761 shares on June 15,2016, the days to cover came in at 12. The updated interest stood at 4.1% of the stocks floats. The stock has seen an average daily volume of 516,525 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Cumulus Media (NASDAQ:CMLS): The stock opened at $0.31 on Friday but the bulls could not build on the opening and the stock topped out at $0.31 for the day. The stock traded down to $0.28 during the day, due to lack of any buying support eventually closed down at $0.29 with a loss of -5.87% for the day. The stock had closed at $0.31 on the previous day. The total traded volume was 14,090,505 shares.
The company shares have dropped -86.06% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $2.27 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $0.33 and the 200 Day Moving Average price is recorded at $0.34.
Cumulus Media (NASDAQ:CMLS) has tumbled 8.11% during the past week and has dropped 6.53% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 6.59%. Cumulus Media (NASDAQ:CMLS) has underperformed the index by 3.7% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.