Salem Communications Corp. (NASDAQ:SALM) traded down 5.4% during mid-day trading on Monday . The company traded as low as $7.38 and last traded at $7.47, with a volume of 72,404 shares trading hands. The stock had previously closed at $7.90.

Separately, Zacks Investment Research downgraded shares of Salem Communications Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th.

The firm has a market cap of $191.84 million and a PE ratio of 17.49. The firm has a 50 day moving average of $6.91 and a 200 day moving average of $5.81.

Salem Communications Corp. (NASDAQ:SALM) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.02. The firm earned $64.60 million during the quarter, compared to analysts’ expectations of $63.43 million. On average, analysts predict that Salem Communications Corp. will post $0.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th were given a $0.065 dividend. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 3.46%.

In related news, insider David P. Santrella sold 39,173 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $8.01, for a total value of $313,775.73. Following the completion of the transaction, the insider now directly owns 35,828 shares in the company, valued at approximately $286,982.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Evans sold 12,558 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $6.90, for a total transaction of $86,650.20. Following the completion of the transaction, the insider now owns 61,496 shares of the company’s stock, valued at $424,322.40. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Salem Communications Corp. stock. Dimensional Fund Advisors LP boosted its position in Salem Communications Corp. (NASDAQ:SALM) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 932,465 shares of the company’s stock after buying an additional 2,586 shares during the period. Dimensional Fund Advisors LP owned about 3.66% of Salem Communications Corp. worth $4,644,000 at the end of the most recent quarter.

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.

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