Salem Media Group (SALM) Hits New 52-Week Low at $4.47

Shares of Salem Media Group, Inc. (NASDAQ:SALM) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.47 and last traded at $5.10, with a volume of 64600 shares. The stock had previously closed at $4.80.

Several research firms have weighed in on SALM. Noble Financial reaffirmed a “buy” rating on shares of Salem Media Group in a research report on Tuesday, August 8th. ValuEngine raised Salem Media Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research cut Salem Media Group from a “hold” rating to a “sell” rating in a research report on Friday, August 11th.

The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.88 and a current ratio of 0.89. The firm has a market cap of $117.73, a PE ratio of 10.98 and a beta of 1.16.

Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.16). Salem Media Group had a net margin of 1.97% and a return on equity of 5.02%. The firm had revenue of $65.43 million for the quarter, compared to the consensus estimate of $68.43 million. analysts expect that Salem Media Group, Inc. will post 0.17 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in SALM. Dimensional Fund Advisors LP grew its stake in Salem Media Group by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,049,571 shares of the company’s stock worth $7,819,000 after acquiring an additional 10,771 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Salem Media Group by 72.2% in the first quarter. Goldman Sachs Group Inc. now owns 46,207 shares of the company’s stock valued at $344,000 after buying an additional 19,373 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Salem Media Group by 11.4% during the second quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock worth $330,000 after acquiring an additional 4,767 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Salem Media Group during the second quarter worth about $1,815,000. Finally, Kennedy Capital Management Inc. raised its stake in shares of Salem Media Group by 2.2% in the 2nd quarter. Kennedy Capital Management Inc. now owns 139,644 shares of the company’s stock valued at $991,000 after acquiring an additional 2,961 shares during the period. Institutional investors and hedge funds own 30.32% of the company’s stock.

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Salem Media Group Company Profile

Salem Media Group, Inc, formerly Salem Communications Corporation, is a multi-media company specializing in Christian and Conservative content, with media properties consisting of radio broadcasting, digital media, and book, magazine and newsletter publishing. The Company operates through three segments: Broadcast, Digital Media and Publishing.

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