Municipal Employees Retirement System of Michigan Takes Position in Salem Media Group Inc (SALM)

Municipal Employees Retirement System of Michigan bought a new position in Salem Media Group Inc (NASDAQ:SALM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 101,150 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. North Star Investment Management Corp. increased its stake in shares of Salem Media Group by 1.7% in the fourth quarter. North Star Investment Management Corp. now owns 387,290 shares of the company’s stock worth $809,000 after purchasing an additional 6,531 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Salem Media Group by 57.8% in the fourth quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock worth $78,000 after purchasing an additional 13,701 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Salem Media Group by 104.5% in the fourth quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock worth $60,000 after purchasing an additional 14,723 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Salem Media Group by 4.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,281,706 shares of the company’s stock worth $4,358,000 after purchasing an additional 57,252 shares in the last quarter. Hedge funds and other institutional investors own 25.44% of the company’s stock.

SALM stock opened at $2.19 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.83 and a quick ratio of 0.81. Salem Media Group Inc has a 12 month low of $2.03 and a 12 month high of $6.25. The company has a market capitalization of $55.76 million, a PE ratio of 24.33 and a beta of 1.67.

Salem Media Group (NASDAQ:SALM) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Salem Media Group had a negative net margin of 1.21% and a positive return on equity of 1.42%. The firm had revenue of $67.19 million during the quarter, compared to the consensus estimate of $66.50 million. Equities research analysts predict that Salem Media Group Inc will post 0.09 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 19th were given a $0.065 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 11.87%. Salem Media Group’s dividend payout ratio (DPR) is currently 288.89%.

Several research firms have recently weighed in on SALM. Singular Research reiterated a “buy” rating on shares of Salem Media Group in a research note on Friday, March 15th. Zacks Investment Research downgraded shares of Salem Media Group from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. TheStreet upgraded shares of Salem Media Group from a “d+” rating to a “c-” rating in a research note on Tuesday, March 12th. ValuEngine upgraded shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, Noble Financial restated a “buy” rating and issued a $3.50 price objective on shares of Salem Media Group in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.25.

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Salem Media Group Profile

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 radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.

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

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