StockNews.com Initiates Coverage on Salem Media Group (NASDAQ:SALM)

Stock analysts at StockNews.com started coverage on shares of Salem Media Group (NASDAQ:SALM) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Salem Media Group Trading Down 5.0 %

SALM stock opened at $0.38 on Tuesday. The company has a market cap of $10.34 million, a price-to-earnings ratio of -0.23 and a beta of 0.84. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $0.36 and a 200-day simple moving average of $0.48. Salem Media Group has a 52 week low of $0.24 and a 52 week high of $1.09.

Institutional Trading of Salem Media Group

A number of institutional investors and hedge funds have recently made changes to their positions in SALM. Dimensional Fund Advisors LP increased its holdings in shares of Salem Media Group by 75.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 163,361 shares of the company’s stock worth $554,000 after buying an additional 70,367 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Salem Media Group by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 553,985 shares of the company’s stock worth $1,878,000 after buying an additional 49,025 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Salem Media Group during the 1st quarter worth $55,000. Jane Street Group LLC purchased a new stake in Salem Media Group during the 1st quarter worth $44,000. Finally, Bank of Montreal Can purchased a new stake in Salem Media Group during the 2nd quarter worth $205,000. 10.14% of the stock is currently owned by institutional investors and hedge funds.

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 33 FM radio stations and 70 radio stations; offers programs on the Family Talk Christian-themed talk format station on SiriusXM Channel 131; provides programming to Christian and family-themed talk stations, music stations, and news talk stations; places advertising on Christian and talk formatted radio stations, and other commercial radio station formats; and operates Salem Podcast Network, a platform for conservative, political, news, and family-oriented podcasts.