Brandywine Global Investment Management LLC Sells 334 Shares of Salem Media Group, Inc. (SALM)

Brandywine Global Investment Management LLC lessened its holdings in Salem Media Group, Inc. (NASDAQ:SALM) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,456 shares of the company’s stock after selling 334 shares during the quarter. Brandywine Global Investment Management LLC owned 0.06% of Salem Media Group worth $103,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SALM. Bank of New York Mellon Corp boosted its position in shares of Salem Media Group by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 218,211 shares of the company’s stock valued at $1,625,000 after acquiring an additional 8,955 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Salem Media Group by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,049,571 shares of the company’s stock valued at $7,819,000 after acquiring an additional 10,771 shares during the period. Goldman Sachs Group Inc. boosted 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 valued at $344,000 after acquiring an additional 19,373 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Salem Media Group by 11.4% in the second quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock valued at $330,000 after acquiring an additional 4,767 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in shares of Salem Media Group in the second quarter valued at about $1,815,000. 30.51% of the stock is owned by institutional investors.

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Shares of Salem Media Group, Inc. (SALM) opened at 6.45 on Friday. The company’s 50-day moving average is $6.31 and its 200 day moving average is $6.94. The company has a market cap of $168.46 million, a PE ratio of 22.32 and a beta of 1.20. Salem Media Group, Inc. has a 52-week low of $5.00 and a 52-week high of $8.25.

Salem Media Group (NASDAQ:SALM) last posted its earnings results 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. The business had revenue of $66.11 million during the quarter, compared to analyst estimates of $67.47 million. Salem Media Group had a return on equity of 6.26% and a net margin of 2.75%. On average, analysts anticipate that Salem Media Group, Inc. will post $0.25 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 22nd were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.03%. Salem Media Group’s dividend payout ratio (DPR) is presently 92.86%.

SALM has been the subject of a number of recent research reports. ValuEngine raised shares of Salem Media Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Noble Financial reissued a “buy” rating on shares of Salem Media Group in a research report on Tuesday, August 8th.

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.

Institutional Ownership by Quarter for Salem Media Group (NASDAQ:SALM)

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