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

Stock analysts at StockNews.com assumed coverage on shares of Salem Media Group (NASDAQ:SALM) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the stock.

Salem Media Group Stock Performance

Shares of SALM stock opened at $0.69 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.58 and a debt-to-equity ratio of 0.93. Salem Media Group has a 12-month low of $0.54 and a 12-month high of $2.20. The company has a market cap of $18.75 million, a price-to-earnings ratio of -0.71 and a beta of 1.27. The stock has a 50 day simple moving average of $0.64 and a 200-day simple moving average of $0.84.

Salem Media Group (NASDAQ:SALM) last issued its earnings results on Tuesday, August 8th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.09). Salem Media Group had a negative return on equity of 5.19% and a negative net margin of 9.94%. The company had revenue of $65.77 million for the quarter, compared to analysts’ expectations of $64.32 million. On average, equities analysts forecast that Salem Media Group will post -0.34 EPS for the current year.

Institutional Trading of Salem Media Group

Several large investors have recently bought and sold shares of SALM. Cetera Investment Advisers acquired a new stake in Salem Media Group in the 4th quarter valued at about $28,000. Virtu Financial LLC acquired a new position in shares of Salem Media Group during the 2nd quarter worth approximately $38,000. EA Series Trust purchased a new stake in Salem Media Group in the 2nd quarter valued at approximately $41,000. Citadel Advisors LLC increased its position in Salem Media Group by 78.4% during the second quarter. Citadel Advisors LLC now owns 46,268 shares of the company’s stock worth $44,000 after buying an additional 20,330 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Salem Media Group in the first quarter worth $44,000. Institutional investors and hedge funds own 12.51% of the company’s stock.

About Salem Media Group

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 33 FM radio stations and 70 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.