Salem Media Group (NASDAQ:SALM) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Salem Media Group (NASDAQ:SALMGet Rating) from a buy rating to a hold rating in a research report report published on Thursday.

Separately, Zacks Investment Research lowered Salem Media Group from a buy rating to a hold rating in a research report on Friday, May 6th.

NASDAQ:SALM opened at $2.75 on Thursday. The firm has a market capitalization of $74.69 million, a price-to-earnings ratio of 1.76 and a beta of 1.15. Salem Media Group has a 1-year low of $1.91 and a 1-year high of $6.82. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average price is $3.15 and its 200 day moving average price is $3.24.

Salem Media Group (NASDAQ:SALMGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.06 earnings per share for the quarter. The firm had revenue of $62.61 million for the quarter, compared to analyst estimates of $61.50 million. Salem Media Group had a return on equity of 15.97% and a net margin of 16.42%.

A number of hedge funds have recently modified their holdings of SALM. Morgan Stanley increased its position in Salem Media Group by 6,161.2% in the 1st quarter. Morgan Stanley now owns 106,879 shares of the company’s stock worth $314,000 after purchasing an additional 105,172 shares during the last quarter. Millennium Management LLC increased its position in Salem Media Group by 263.5% in the 2nd quarter. Millennium Management LLC now owns 68,483 shares of the company’s stock worth $175,000 after purchasing an additional 49,641 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Salem Media Group by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 119,447 shares of the company’s stock valued at $443,000 after acquiring an additional 4,409 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Salem Media Group during the 3rd quarter valued at about $54,000. Finally, Citadel Advisors LLC acquired a new position in shares of Salem Media Group during the 3rd quarter valued at about $79,000. 21.62% of the stock is currently owned by institutional investors.

Salem Media Group Company Profile (Get Rating)

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 32 FM radio stations and 69 AM 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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