Salem Media Group Inc (NASDAQ:SALM) CFO Sells $25,256.70 in Stock

Salem Media Group Inc (NASDAQ:SALM) CFO Evan D. Masyr sold 11,970 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.11, for a total transaction of $25,256.70. Following the completion of the sale, the chief financial officer now owns 23,068 shares of the company’s stock, valued at approximately $48,673.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NASDAQ:SALM traded up $0.26 on Wednesday, hitting $2.36. The stock had a trading volume of 278,359 shares, compared to its average volume of 51,984. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.59 and a current ratio of 0.60. The firm has a market cap of $54.73 million, a price-to-earnings ratio of 26.22 and a beta of 1.44. Salem Media Group Inc has a 1 year low of $1.85 and a 1 year high of $6.25.

Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings data on Friday, May 10th. The company reported $0.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. Salem Media Group had a negative net margin of 1.43% and a positive return on equity of 1.21%. The firm had revenue of $60.47 million during the quarter, compared to analyst estimates of $61.12 million. As a group, sell-side analysts forecast that Salem Media Group Inc will post 0.14 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.26 annualized dividend and a dividend yield of 11.02%. Salem Media Group’s payout ratio is currently 288.89%.

Hedge funds have recently modified their holdings of the company. Bailard Inc. purchased a new stake in shares of Salem Media Group during the 1st quarter worth approximately $72,000. Acadian Asset Management LLC increased its stake in shares of Salem Media Group by 57.8% during the 4th 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 during the last quarter. Ancora Advisors LLC increased its stake in shares of Salem Media Group by 55.9% during the 4th quarter. Ancora Advisors LLC now owns 408,915 shares of the company’s stock worth $855,000 after purchasing an additional 146,564 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Salem Media Group during the 4th quarter worth approximately $211,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Salem Media Group by 104.5% during the 4th 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 during the last quarter. Institutional investors own 25.06% of the company’s stock.

Several research firms have commented on SALM. Zacks Investment Research upgraded shares of Salem Media Group from a “strong sell” rating to a “hold” rating and set a $2.50 price objective for the company in a research note on Tuesday, May 14th. Noble Financial set a $4.00 price objective on shares of Salem Media Group and gave the company a “buy” rating in a research note on Monday, May 13th. TheStreet lowered shares of Salem Media Group from a “c-” rating to a “d” rating in a research note on Monday, April 15th. Finally, Singular Research reiterated a “buy” rating on shares of Salem Media Group in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $3.25.

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Salem Media Group Company 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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Insider Buying and Selling by Quarter for Salem Media Group (NASDAQ:SALM)

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