Salem Media Group, Inc. (NASDAQ:SALM) Short Interest Down 19.2% in April

Salem Media Group, Inc. (NASDAQ:SALMGet Rating) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 171,400 shares, a drop of 19.2% from the April 15th total of 212,200 shares. Based on an average daily volume of 128,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.5% of the company’s shares are short sold.

Shares of NASDAQ:SALM traded up $0.07 during mid-day trading on Tuesday, hitting $2.82. 51 shares of the company traded hands, compared to its average volume of 101,341. The firm has a market cap of $76.59 million, a P/E ratio of 1.76 and a beta of 1.15. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.74 and a current ratio of 0.76. Salem Media Group has a 52-week low of $1.79 and a 52-week high of $6.82. The firm’s 50 day simple moving average is $3.21 and its 200 day simple moving average is $3.26.

Salem Media Group (NASDAQ:SALMGet Rating) last announced its earnings results on Thursday, March 3rd. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.05 by $0.19. Salem Media Group had a return on equity of 15.97% and a net margin of 16.42%. The business had revenue of $69.13 million for the quarter, compared to the consensus estimate of $64.89 million. During the same period last year, the business posted $0.09 EPS.

Several equities research analysts recently commented on the company. StockNews.com upgraded Salem Media Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th. Zacks Investment Research downgraded Salem Media Group from a “buy” rating to a “hold” rating in a report on Friday, May 6th.

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in Salem Media Group by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 119,447 shares of the company’s stock worth $443,000 after purchasing an additional 4,409 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Salem Media Group by 2.0% during 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. Virtu Financial LLC increased its holdings in Salem Media Group by 59.8% during the 4th quarter. Virtu Financial LLC now owns 32,251 shares of the company’s stock worth $99,000 after purchasing an additional 12,074 shares during the last quarter. Morgan Stanley increased its holdings in Salem Media Group by 94.3% during the 3rd quarter. Morgan Stanley now owns 26,489 shares of the company’s stock worth $99,000 after purchasing an additional 12,853 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Salem Media Group during the 3rd quarter worth approximately $54,000. Institutional investors own 21.62% of the company’s stock.

Salem Media Group Company Profile (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.

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