ValuEngine cut shares of Salem Media Group, Inc. (NASDAQ:SALM) from a buy rating to a hold rating in a research note published on Friday.

SALM has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Salem Media Group from a hold rating to a sell rating in a research report on Friday, August 11th. Noble Financial reissued a buy rating on shares of Salem Media Group in a research report on Tuesday, August 8th.

Shares of Salem Media Group (NASDAQ:SALM) opened at 6.10 on Friday. The company has a market cap of $159.32 million, a price-to-earnings ratio of 21.11 and a beta of 1.19. The company’s 50-day moving average is $6.78 and its 200 day moving average is $7.08. Salem Media Group has a 1-year low of $5.00 and a 1-year high of $8.25.

Salem Media Group (NASDAQ:SALM) last posted its earnings results on Monday, August 7th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $66.11 million for the quarter, compared to the consensus estimate of $67.47 million. Salem Media Group had a net margin of 2.75% and a return on equity of 6.26%. Equities analysts anticipate that Salem Media Group will post $0.25 EPS for the current year.

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In other news, SVP Christopher J. Henderson sold 5,215 shares of Salem Media Group stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $7.40, for a total value of $38,591.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward G. Atsinger III sold 3,528 shares of Salem Media Group stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $7.45, for a total transaction of $26,283.60. Following the completion of the transaction, the chief executive officer now directly owns 42,654 shares in the company, valued at approximately $317,772.30. The disclosure for this sale can be found here. Insiders have sold a total of 19,604 shares of company stock worth $144,357 in the last three months. Insiders own 60.04% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. State Street Corp grew its position in shares of Salem Media Group by 17.9% in the 2nd quarter. State Street Corp now owns 149,513 shares of the company’s stock worth $1,061,000 after buying an additional 22,696 shares during the last quarter. Cornerstone Capital Management Holdings LLC. grew its position in shares of Salem Media Group by 23.7% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 17,200 shares of the company’s stock worth $121,000 after buying an additional 3,300 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Salem Media Group by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,101,909 shares of the company’s stock worth $7,824,000 after buying an additional 52,338 shares during the last quarter. FMR LLC purchased a new position in shares of Salem Media Group in the 2nd quarter worth approximately $1,330,000. Finally, Northern Trust Corp grew its position in shares of Salem Media Group by 4.5% in the 2nd quarter. Northern Trust Corp now owns 119,592 shares of the company’s stock worth $849,000 after buying an additional 5,106 shares during the last quarter. 30.51% of the stock is currently owned by hedge funds and other institutional investors.

Salem Media Group Company Profile

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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