According to Zacks, “Salem Media Group, Inc. is a radio broadcaster, Internet content provider and magazine and book publisher specializing in Christian and Conservative content. Its operating segment consists of Broadcast, Digital Media and Publishing. Broadcasting segment is engaged in the ownership and operation of radio stations in metropolitan markets. Digital Media segment focuses on Web-based platform designed. Publishing segment consists of Regnery Publishing, Xulon Press and Salem Publishing. Salem Media Group, Inc., formerly known as Salem Communications Corporation, is headquartered in Camarillo, California. “
Separately, StockNews.com started coverage on Salem Media Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock.
Salem Media Group (NASDAQ:SALM – Get Rating) last posted its quarterly earnings data on Thursday, March 3rd. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.19. Salem Media Group had a net margin of 16.08% and a return on equity of 16.19%. The firm had revenue of $69.13 million during the quarter, compared to analysts’ expectations of $64.89 million. During the same quarter in the previous year, the company posted $0.09 EPS. As a group, equities research analysts forecast that Salem Media Group will post 0.26 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its position in shares of Salem Media Group by 2.0% in the 4th quarter. Acadian Asset Management LLC now owns 407,942 shares of the company’s stock worth $1,247,000 after purchasing an additional 7,891 shares during the last quarter. Marshall Wace LLP acquired a new position in Salem Media Group in the fourth quarter valued at about $519,000. Geode Capital Management LLC boosted its holdings in Salem Media Group by 3.8% during the third quarter. Geode Capital Management LLC now owns 119,447 shares of the company’s stock worth $443,000 after buying an additional 4,409 shares during the last quarter. Morgan Stanley boosted its holdings in Salem Media Group by 6,161.2% during the first quarter. Morgan Stanley now owns 106,879 shares of the company’s stock worth $314,000 after buying an additional 105,172 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Salem Media Group by 1,108.6% in the 4th quarter. Barclays PLC now owns 100,000 shares of the company’s stock valued at $306,000 after acquiring an additional 91,726 shares during the last quarter. 21.62% of the stock is owned by institutional investors and hedge funds.
About Salem Media Group (Get Rating)
Salem Media Group, Inc operates as a multimedia company in the United States. It operates through three segments: Broadcast, Digital Media, and Publishing. The company owns and operates 32 FM radio stations and 69 AM radio stations; offers programs on the Family Talk Christian-themed talk format station on SiriusXM Channel 131; provides programming to Christian and family-themed talk stations, music stations, and news talk stations; places advertising on Christian and talk formatted radio stations, and other commercial radio station formats; and operates Salem Podcast Network, a platform for conservative, political, news, and family-oriented podcasts.
- Get a free copy of the StockNews.com research report on Salem Media Group (SALM)
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