StockNews.com Begins Coverage on Salem Media Group (NASDAQ:SALM)

Stock analysts at StockNews.com assumed coverage on shares of Salem Media Group (NASDAQ:SALM – Get Rating) in a research report issued on Wednesday. The brokerage set a “hold” rating on the stock.

Salem Media Group Trading Up 0.7 %

Shares of NASDAQ:SALM opened at $0.96 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.56 and a current ratio of 0.58. The stock’s 50-day moving average is $1.03 and its 200-day moving average is $1.17. The company has a market cap of $26.13 million, a P/E ratio of -2.53 and a beta of 1.21. Salem Media Group has a 52-week low of $0.92 and a 52-week high of $2.92.

Salem Media Group (NASDAQ:SALM – Get Rating) last issued its quarterly earnings results on Wednesday, March 8th. The company reported ($0.02) earnings per share for the quarter. Salem Media Group had a negative net margin of 3.78% and a negative return on equity of 0.22%. The company had revenue of $68.81 million during the quarter. Equities research analysts predict that Salem Media Group will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SALM. Verdad Advisers LP increased its holdings in Salem Media Group by 10.7% in the 3rd quarter. Verdad Advisers LP now owns 885,452 shares of the company’s stock valued at $1,541,000 after buying an additional 85,452 shares during the period. Susquehanna International Group LLP bought a new stake in Salem Media Group in the fourth quarter valued at about $27,000. Vanguard Group Inc. lifted its stake in Salem Media Group by 9.7% during the first quarter. Vanguard Group Inc. now owns 553,985 shares of the company’s stock worth $1,878,000 after purchasing an additional 49,025 shares during the period. Dimensional Fund Advisors LP lifted its stake in Salem Media Group by 75.7% during the first quarter. Dimensional Fund Advisors LP now owns 163,361 shares of the company’s stock worth $554,000 after purchasing an additional 70,367 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Salem Media Group by 32.7% during the third quarter. Renaissance Technologies LLC now owns 143,400 shares of the company’s stock valued at $250,000 after purchasing an additional 35,300 shares in the last quarter. 13.12% of the stock is currently owned by institutional investors and hedge funds.

Salem Media Group Company Profile

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Salem Media Group, Inc engages in the provision of media specializing in Christian and conservative content. It operates through the following segments: Broadcast, Digital Media and Publishing. The Broadcast segment owns and operates radio stations in large metropolitan markets, which include national and local programming content.