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.
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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