Insider Buying: Salem Media Group Inc (NASDAQ:SALM) Chairman Purchases 18,161 Shares of Stock

Salem Media Group Inc (NASDAQ:SALM) Chairman Stuart W. Epperson bought 18,161 shares of the stock in a transaction on Monday, March 23rd. The stock was purchased at an average cost of $0.89 per share, for a total transaction of $16,163.29. Following the acquisition, the chairman now owns 103,934 shares of the company’s stock, valued at approximately $92,501.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SALM stock opened at $1.00 on Thursday. Salem Media Group Inc has a fifty-two week low of $0.65 and a fifty-two week high of $2.68. The business’s 50-day moving average is $1.21 and its two-hundred day moving average is $1.44. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 0.79. The company has a market cap of $27.22 million, a price-to-earnings ratio of -0.95 and a beta of 1.56.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 10.00%. The ex-dividend date is Monday, March 23rd.

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in Salem Media Group by 8.1% in the fourth quarter. Renaissance Technologies LLC now owns 250,598 shares of the company’s stock valued at $361,000 after acquiring an additional 18,700 shares during the period. Atria Investments LLC bought a new position in Salem Media Group in the fourth quarter valued at about $49,000. Finally, OneAscent Financial Services LLC bought a new position in Salem Media Group in the fourth quarter valued at about $50,000. 17.45% of the stock is currently owned by institutional investors.

About Salem Media Group

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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