Salem Media Group Inc (SALM) CFO Sells $10,682.00 in Stock

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.



The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 12.56%. The ex-dividend date is Thursday, June 13th. Salem Media Group’s payout ratio is 288.89%.

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.

TRADEMARK VIOLATION NOTICE: “Salem Media Group Inc (SALM) CFO Sells $10,682.00 in Stock” was posted by Dakota Financial News and is the property of of Dakota Financial News. If you are reading this report on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://dakotafinancialnews.com/2019/05/26/salem-media-group-inc-salm-cfo-sells-10682-00-in-stock.html.

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.

Read More: Backdoor Roth IRA Conversion and Strategy

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

Receive News & Ratings for Salem Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salem Media Group and related companies with MarketBeat.com's FREE daily email newsletter.