Salem Media Group Inc (SALM) EVP Christopher J. Henderson Sells 5,248 Shares
Salem Media Group Inc (NASDAQ:SALM) EVP Christopher J. Henderson sold 5,248 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $2.43, for a total value of $12,752.64. Following the transaction, the executive vice president now owns 22,404 shares in the company, valued at $54,441.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
SALM traded down $0.07 on Thursday, hitting $2.10. 72,368 shares of the company were exchanged, compared to its average volume of 47,633. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.60 and a quick ratio of 0.59. Salem Media Group Inc has a 12 month low of $1.85 and a 12 month high of $6.25. The firm has a market cap of $57.07 million, a price-to-earnings ratio of 23.28 and a beta of 1.55.
Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings results on Friday, May 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Salem Media Group had a positive return on equity of 1.21% and a negative net margin of 1.43%. The business had revenue of $60.47 million for the quarter, compared to analyst estimates of $61.12 million. As a group, sell-side analysts anticipate that Salem Media Group Inc will post 0.14 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Bailard Inc. bought a new position in Salem Media Group during the 1st quarter worth approximately $72,000. Dimensional Fund Advisors LP grew its position in Salem Media Group by 4.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,281,706 shares of the company’s stock worth $4,358,000 after acquiring an additional 57,252 shares during the last quarter. Acadian Asset Management LLC grew its position in Salem Media Group by 57.8% during the 4th quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock worth $78,000 after acquiring an additional 13,701 shares during the last quarter. Ancora Advisors LLC grew its position in Salem Media Group by 55.9% during the 4th quarter. Ancora Advisors LLC now owns 408,915 shares of the company’s stock worth $855,000 after acquiring an additional 146,564 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in Salem Media Group during the 4th quarter worth approximately $211,000. Institutional investors and hedge funds own 25.12% of the company’s stock.
Several equities analysts have recently commented on the company. Noble Financial set a $4.00 price objective on Salem Media Group and gave the company a “buy” rating in a research report on Monday, May 13th. Zacks Investment Research upgraded Salem Media Group from a “strong sell” rating to a “hold” rating and set a $2.50 price objective on the stock in a research report on Tuesday, May 14th. TheStreet lowered Salem Media Group from a “c-” rating to a “d” rating in a research report on Monday, April 15th. Singular Research reiterated a “buy” rating on shares of Salem Media Group in a research report on Friday, March 15th. Finally, ValuEngine upgraded Salem Media Group from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Salem Media Group presently has an average rating of “Buy” and an average price target of $3.25.
Salem Media Group Company Profile
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 radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.
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