Here is What Hedge Funds Think About Cumulus Media Inc (CMLS)

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Due to the fact that Cumulus Media Inc (NASDAQ:CMLS) has experienced a declination in interest from the aggregate hedge fund industry, we can see that there lies a certain “tier” of hedge funds that elected to cut their full holdings by the end of the third quarter. Interestingly, Tom Sandell’s Sandell Asset Management said goodbye to the biggest stake of the 700 funds tracked by Insider Monkey, valued at close to $5.7 million in stock, and Buckley Ratchford’s Wingspan Investment Management was right behind this move, as the fund cut about $0.7 million worth. These moves are intriguing to say the least, as total hedge fund interest dropped by 2 funds by the end of the third quarter.

Let’s also examine hedge fund activity in other stocks similar to Cumulus Media Inc (NASDAQ:CMLS). These stocks are Assembly Biosciences Inc (NASDAQ:ASMB), Allot Communications Ltd. (NASDAQ:ALLT), Emerge Energy Services LP (NYSE:EMES), and Orion Marine Group, Inc. (NYSE:ORN). All of these stocks’ market caps are closest to CMLS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ASMB 12 73854 -2
ALLT 8 26523 -1
EMES 5 8021 1
ORN 12 15012 0

As you can see these stocks had an average of 9.25 hedge funds with bullish positions and the average amount invested in these stocks was $31 million. That figure was $27 million in CMLS’s case. Assembly Biosciences Inc (NASDAQ:ASMB) is the most popular stock in this table. On the other hand Emerge Energy Services LP (NYSE:EMES) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Cumulus Media Inc (NASDAQ:CMLS) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail despite the total number of funds long the stock dropping by 2.

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