Salem Media Group (NASDAQ:SALM) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Salem Media Group (NASDAQ:SALMGet Rating) in a research report issued to clients and investors on Monday. The firm set a “hold” rating on the stock.

Several other equities research analysts also recently weighed in on SALM. TheStreet downgraded Salem Media Group from a “c” rating to a “d” rating in a report on Friday, November 4th. EF Hutton Acquisition Co. I decreased their price target on Salem Media Group from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, November 7th.

Salem Media Group Price Performance

SALM stock opened at $1.28 on Monday. The company has a market capitalization of $34.84 million, a P/E ratio of 2.29 and a beta of 1.26. Salem Media Group has a twelve month low of $1.00 and a twelve month high of $4.19. The business has a 50 day simple moving average of $1.22 and a 200-day simple moving average of $1.78. The company has a current ratio of 0.79, a quick ratio of 0.76 and a debt-to-equity ratio of 0.88.

Salem Media Group (NASDAQ:SALMGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.02) earnings per share for the quarter. Salem Media Group had a return on equity of 6.50% and a net margin of 5.92%. The company had revenue of $66.86 million for the quarter.

Institutional Trading of Salem Media Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can acquired a new position in shares of Salem Media Group in the 2nd quarter valued at about $205,000. Verdad Advisers LP increased its holdings in Salem Media Group by 10.7% during the 3rd quarter. Verdad Advisers LP now owns 885,452 shares of the company’s stock worth $1,541,000 after purchasing an additional 85,452 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Salem Media Group by 75.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 163,361 shares of the company’s stock worth $554,000 after purchasing an additional 70,367 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Salem Media Group by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 553,985 shares of the company’s stock valued at $1,878,000 after acquiring an additional 49,025 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Salem Media Group by 32.7% during the 3rd quarter. Renaissance Technologies LLC now owns 143,400 shares of the company’s stock valued at $250,000 after acquiring an additional 35,300 shares in the last quarter. Hedge funds and other institutional investors own 13.12% 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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