Zacks Investment Research downgraded shares of Salem Media Group, Inc. (NASDAQ:SALM) from a hold rating to a sell rating in a report issued on Thursday.

According to Zacks, “Salem Media Group, Inc. is a radio broadcaster, Internet content provider and magazine and book publisher specializing in Christian and Conservative content. Its operating segment consists of Broadcast, Digital Media and Publishing. Broadcasting segment is engaged in the ownership and operation of radio stations in metropolitan markets. Digital Media segment focuses on Web-based platform designed. Publishing segment consists of Regnery Publishing, Xulon Press and Salem Publishing. Salem Media Group, Inc., formerly known as Salem Communications Corporation, is headquartered in Camarillo, California. “

Other analysts have also issued research reports about the company. ValuEngine lowered Salem Media Group from a buy rating to a hold rating in a report on Tuesday, June 27th. Noble Financial reissued a buy rating on shares of Salem Media Group in a report on Tuesday, August 8th.

Salem Media Group (NASDAQ SALM) traded down 2.26% on Thursday, reaching $6.50. The company’s stock had a trading volume of 10,407 shares. The company’s 50 day moving average price is $6.28 and its 200-day moving average price is $6.95. The stock has a market cap of $169.77 million, a PE ratio of 22.49 and a beta of 1.20. Salem Media Group has a 12-month low of $5.00 and a 12-month high of $8.25.

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

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 22nd were issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Thursday, September 21st. Salem Media Group’s payout ratio is 92.86%.

Institutional investors have recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. increased its holdings 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 purchasing an additional 3,300 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Salem Media Group by 82.9% in the 2nd quarter. Teachers Advisors LLC now owns 21,735 shares of the company’s stock worth $154,000 after purchasing an additional 9,852 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Salem Media Group by 35.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 29,558 shares of the company’s stock worth $210,000 after purchasing an additional 7,701 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Salem Media Group by 72.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 46,207 shares of the company’s stock worth $344,000 after purchasing an additional 19,373 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Salem Media Group by 11.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock worth $330,000 after purchasing an additional 4,767 shares in the last quarter. 30.51% of the stock is owned by institutional investors and hedge funds.

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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