Salem Media Group Inc (NASDAQ:SALM) CFO Evan D. Masyr sold 4,360 shares of Salem Media Group stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $2.45, for a total value of $10,682.00. Following the completion of the transaction, the chief financial officer now owns 34,055 shares of the company’s stock, valued at $83,434.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Salem Media Group stock traded down $0.03 during midday trading on Friday, hitting $2.07. 138,425 shares of the company’s stock were exchanged, compared to its average volume of 47,633. Salem Media Group Inc has a 52-week low of $1.85 and a 52-week high of $6.25. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 1.31. The stock has a market cap of $54.20 million, a price-to-earnings ratio of 23.00 and a beta of 1.55.
Salem Media Group (NASDAQ:SALM) last posted its earnings results on Friday, May 10th. The company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. Salem Media Group had a positive return on equity of 1.21% and a negative net margin of 1.43%. The business had revenue of $60.47 million during the quarter, compared to analysts’ expectations of $61.12 million. On average, research analysts anticipate that Salem Media Group Inc will post 0.14 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Kennedy Capital Management Inc. bought a new stake in Salem Media Group during the first quarter worth about $107,000. Bailard Inc. bought a new stake in Salem Media Group during the first quarter worth about $72,000. Ancora Advisors LLC lifted its stake in Salem Media Group by 55.9% during the fourth 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 bought a new stake in Salem Media Group during the fourth quarter worth about $211,000. Finally, Bank of New York Mellon Corp lifted its stake in Salem Media Group by 104.5% during 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 during the last quarter. Institutional investors and hedge funds own 25.12% of the company’s stock.
Several brokerages have recently weighed in on SALM. Zacks Investment Research upgraded Salem Media Group from a “strong sell” rating to a “hold” rating and set a $2.50 price target for the company in a research report on Tuesday, May 14th. Singular Research reiterated a “buy” rating on shares of Salem Media Group in a research report on Friday, March 15th. TheStreet cut Salem Media Group from a “c-” rating to a “d” rating in a research report on Monday, April 15th. Noble Financial set a $4.00 target price on Salem Media Group and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, ValuEngine upgraded Salem Media Group from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus 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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