Below are the top five companies in the Broadcasting industry as measured by the short interest ratio. A higher short interest ratio may indicate the potential for a sizeable short squeeze.
Cumulus Media (NASDAQ:CMLS) has a short interest ratio of 22.8 based on average daily volume of 126,000 shares and 2.9 million shares short. That equates to 8.1% of the 35.6 million shares outstanding.
Gray Television (NYSE:GTN) has a short interest ratio of 9.2 based on average daily volume of 382,000 shares and 3.5 million shares short. That equates to 6.8% of the 51.4 million shares outstanding.
Central European Media Enterprises (NASDAQ:CETV) has a short interest ratio of 8.7 based on average daily volume of 468,000 shares and 4.1 million shares short. That equates to 7.3% of the 56 million shares outstanding.
Sinclair Broadcast Group (NASDAQ:SBGI) has a short interest ratio of 8.4 based on average daily volume of 525,000 shares and 4.4 million shares short. That equates to 9.1% of the 48.8 million shares outstanding.
LIN TV (NYSE:TVL) has a short interest ratio of 7.5 based on average daily volume of 237,000 shares and 1.8 million shares short. That equates to 6% of the 29.4 million shares outstanding.
SmarTrend is bearish on shares of CMLS and our subscribers were alerted to Sell on May 24, 2010 at $4.22. The stock has fallen 31.8% since the alert was issued.