Ratings data suggests that the bloom might be off the rose for CNBC’s Mad Money with Jim Cramer. February marked the third consecutive month of ratings losses year-to-year.

In December, Mad Money averaged 174,000 total viewers, down 23 percent from Dec. ’05; In January, it averaged 219,000 viewers, down 10 percent from Jan. ’06; and in February, it averaged 225,000 viewers, down 25 percent from Feb. ’06.

In the 25-54 demo, Cramer was down 35 percent in February compared to the year-ago (72,000 demo vs. 111,000). Notably, Mad Money’s 5pm lead-in, Kudlow & Co., was up 22 percent in the demo vs. last Feb… Larry Kudlow had more demo viewers than Cramer.

> Update: 2:06pm: The 6pm broadcast of Mad Money “has been up from prior month in total viewers 2+ for each of the last 2 months,” a CNBC insider responds. Also, “February 2007 was the best month for Mad Money 6PM since May 2006.”