Salem Media Group (NASDAQ:SALM) Coverage Initiated by Analysts at StockNews.com

Posted by on Jun 17th, 2023

Equities researchers at StockNews.com assumed coverage on shares of Salem Media Group (NASDAQ:SALM – Get Rating) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the stock.

Salem Media Group Trading Up 6.0 %

NASDAQ:SALM opened at $0.96 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.58 and a quick ratio of 0.56. The firm has a market capitalization of $26.13 million, a price-to-earnings ratio of -2.53 and a beta of 1.20. Salem Media Group has a one year low of $0.90 and a one year high of $2.66. The business has a fifty day moving average price of $0.99 and a 200-day moving average price of $1.12.

Salem Media Group (NASDAQ:SALM – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.13) earnings per share (EPS) for the quarter. Salem Media Group had a negative return on equity of 0.22% and a negative net margin of 3.78%. The business had revenue of $63.49 million during the quarter. Sell-side analysts forecast that Salem Media Group will post -0.25 EPS for the current year.

Institutional Trading of Salem Media Group

Several institutional investors have recently added to or reduced their stakes in SALM. Vanguard Group Inc. boosted its stake in Salem Media Group by 9.7% in the first quarter. Vanguard Group Inc. now owns 553,985 shares of the company’s stock valued at $1,878,000 after acquiring an additional 49,025 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Salem Media Group by 75.7% in the first quarter. Dimensional Fund Advisors LP now owns 163,361 shares of the company’s stock valued at $554,000 after buying an additional 70,367 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Salem Media Group by 32.7% in the third quarter. Renaissance Technologies LLC now owns 143,400 shares of the company’s stock valued at $250,000 after buying an additional 35,300 shares in the last quarter. Bank of Montreal Can purchased a new position in Salem Media Group in the second quarter valued at $205,000. Finally, Susquehanna International Group LLP increased its holdings in Salem Media Group by 64.7% in the first quarter. Susquehanna International Group LLP now owns 41,955 shares of the company’s stock valued at $46,000 after buying an additional 16,481 shares in the last quarter. Institutional investors own 13.12% of the company’s stock.

About Salem Media Group

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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 33 FM radio stations and 70 radio stations; offers programs on the Family Talk Christian-themed talk format station on SiriusXM Channel 131; provides programming to Christian and family-themed talk stations, music stations, and news talk stations; places advertising on Christian and talk formatted radio stations, and other commercial radio station formats; and operates Salem Podcast Network, a platform for conservative, political, news, and family-oriented podcasts.

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