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

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

Salem Media Group Price Performance

NASDAQ:SALM opened at $0.38 on Tuesday. Salem Media Group has a 12 month low of $0.24 and a 12 month high of $1.09. The stock has a 50 day moving average of $0.36 and a two-hundred day moving average of $0.48. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 1.16. The firm has a market cap of $10.34 million, a P/E ratio of -0.23 and a beta of 0.84.

Institutional Investors Weigh In On Salem Media Group

A number of large investors have recently made changes to their positions in the stock. Citadel Advisors LLC grew its position in shares of Salem Media Group by 78.4% in the second quarter. Citadel Advisors LLC now owns 46,268 shares of the company’s stock valued at $44,000 after purchasing an additional 20,330 shares in the last quarter. Susquehanna International Group LLP grew its position in shares of Salem Media Group by 64.7% in the first quarter. Susquehanna International Group LLP now owns 41,955 shares of the company’s stock valued at $46,000 after purchasing an additional 16,481 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Salem Media Group in the fourth quarter valued at approximately $28,000. Renaissance Technologies LLC grew its position in shares of Salem Media Group by 32.7% in the third quarter. Renaissance Technologies LLC now owns 143,400 shares of the company’s stock valued at $250,000 after purchasing an additional 35,300 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Salem Media Group in the second quarter valued at approximately $38,000. 10.14% of the stock is currently owned by hedge funds and other institutional investors.

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.