Salem Media Group (NASDAQ:SALM) Now Covered by StockNews.com

StockNews.com started coverage on shares of Salem Media Group (NASDAQ:SALMGet Rating) in a report published on Monday morning. The brokerage issued a hold rating on the stock.

SALM has been the topic of a number of other reports. EF Hutton Acquisition Co. I dropped their price objective on shares of Salem Media Group from $6.00 to $5.00 and set a buy rating on the stock in a report on Monday, November 7th. TheStreet lowered shares of Salem Media Group from a c rating to a d rating in a report on Friday, November 4th.

Salem Media Group Stock Performance

Shares of NASDAQ:SALM opened at $1.32 on Monday. Salem Media Group has a 12 month low of $1.24 and a 12 month high of $4.19. The company has a quick ratio of 0.76, a current ratio of 0.79 and a debt-to-equity ratio of 0.88. The company’s fifty day simple moving average is $1.71 and its 200 day simple moving average is $2.17. The firm has a market cap of $35.93 million, a price-to-earnings ratio of 2.36 and a beta of 1.29.

Institutional Investors Weigh In On Salem Media Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new stake in Salem Media Group in the 1st quarter valued at $44,000. Goldman Sachs Group Inc. acquired a new position in shares of Salem Media Group during the 1st quarter worth about $55,000. Virtu Financial LLC acquired a new position in shares of Salem Media Group during the 2nd quarter worth about $38,000. Renaissance Technologies LLC boosted its holdings in shares of Salem Media Group by 32.7% during the 3rd quarter. Renaissance Technologies LLC now owns 143,400 shares of the company’s stock worth $250,000 after buying an additional 35,300 shares during the period. Finally, Vanguard Group Inc. boosted 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 period. 14.42% of the stock is currently owned by institutional investors and hedge funds.

About Salem Media Group

(Get Rating)

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 32 FM radio stations and 69 AM 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.

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