Salem Media Group Inc (SALM) SVP Christopher J. Henderson Sells 3,296 Shares of Stock
Salem Media Group Inc (NASDAQ:SALM) SVP Christopher J. Henderson sold 3,296 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $6.94, for a total transaction of $22,874.24. Following the transaction, the senior vice president now directly owns 5,215 shares in the company, valued at approximately $36,192.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Salem Media Group Inc (NASDAQ:SALM) traded up 3.70% during midday trading on Monday, reaching $7.00. 18,569 shares of the company were exchanged. The firm’s 50-day moving average is $7.32 and its 200-day moving average is $6.74. Salem Media Group Inc has a one year low of $5.00 and a one year high of $8.25. The firm has a market cap of $182.15 million, a P/E ratio of 18.97 and a beta of 1.41.
Salem Media Group (NASDAQ:SALM) last announced its earnings results on Monday, May 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.04. Salem Media Group had a return on equity of 5.24% and a net margin of 4.09%. The company had revenue of $64.98 million for the quarter, compared to the consensus estimate of $65.27 million. On average, equities analysts expect that Salem Media Group Inc will post $0.38 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the company. Arete Wealth Advisors LLC raised its position in shares of Salem Media Group by 1.1% in the third quarter. Arete Wealth Advisors LLC now owns 18,885 shares of the company’s stock worth $111,000 after buying an additional 197 shares during the period. Acadian Asset Management LLC raised its position in shares of Salem Media Group by 24.6% in the first quarter. Acadian Asset Management LLC now owns 25,223 shares of the company’s stock worth $188,000 after buying an additional 4,973 shares during the period. Hancock Holding Co. bought a new position in shares of Salem Media Group during the first quarter worth about $196,000. Russell Investments Group Ltd. bought a new position in shares of Salem Media Group during the fourth quarter worth about $299,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Salem Media Group by 72.2% in the first quarter. Goldman Sachs Group Inc. now owns 46,207 shares of the company’s stock worth $344,000 after buying an additional 19,373 shares during the period. 29.50% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research downgraded shares of Salem Media Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th.
About Salem Media Group
Salem Media Group, Inc, formerly Salem Communications Corporation, is a multi-media company specializing in Christian and Conservative content, with media properties consisting of radio broadcasting, digital media, and book, magazine and newsletter publishing. The Company operates through three segments: Broadcast, Digital Media and Publishing.
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