Salem Media Group Inc (SALM) Holdings Trimmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in shares of Salem Media Group Inc (NASDAQ:SALM) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,000 shares of the company’s stock after selling 10,600 shares during the period. JPMorgan Chase & Co. owned 0.94% of Salem Media Group worth $1,617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SALM. Macquarie Group Ltd. acquired a new stake in shares of Salem Media Group in the 3rd quarter valued at about $101,000. Cornerstone Capital Management Holdings LLC. grew its stake in shares of Salem Media Group by 23.7% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 17,200 shares of the company’s stock valued at $121,000 after buying an additional 3,300 shares during the period. Teachers Advisors LLC grew its stake in shares of Salem Media Group by 82.9% in the 2nd quarter. Teachers Advisors LLC now owns 21,735 shares of the company’s stock valued at $154,000 after buying an additional 9,852 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of Salem Media Group by 35.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 29,558 shares of the company’s stock valued at $210,000 after buying an additional 7,701 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Salem Media Group by 11.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock valued at $330,000 after buying an additional 4,767 shares during the period. Institutional investors own 30.32% of the company’s stock.

Shares of Salem Media Group Inc (NASDAQ:SALM) opened at $4.45 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market capitalization of $115.12, a PE ratio of 22.25 and a beta of 1.16. Salem Media Group Inc has a 12 month low of $3.90 and a 12 month high of $8.25.

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

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were paid a $0.065 dividend. The ex-dividend date was Friday, December 15th. This represents a $0.26 annualized dividend and a dividend yield of 5.84%. Salem Media Group’s dividend payout ratio is presently 130.00%.

SALM has been the subject of several research reports. Zacks Investment Research downgraded Salem Media Group from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. ValuEngine downgraded Salem Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Noble Financial restated a “buy” rating on shares of Salem Media Group in a research note on Friday, November 10th.

TRADEMARK VIOLATION WARNING: “Salem Media Group Inc (SALM) Holdings Trimmed by JPMorgan Chase & Co.” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://www.com-unik.info/2018/01/10/salem-media-group-inc-salm-holdings-trimmed-by-jpmorgan-chase-co.html.

About Salem Media Group

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.

Institutional Ownership by Quarter for Salem Media Group (NASDAQ:SALM)

Receive News & Ratings for Salem Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salem Media Group and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit