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

Separately, Zacks Investment Research cut shares of Salem Communications Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 6th.

The firm has a market cap of $193.12 million and a PE ratio of 17.60. The company has a 50 day moving average of $6.95 and a 200 day moving average of $5.86.

Salem Communications Corp. (NASDAQ:SALM) last announced its earnings results on Wednesday, May 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $64.60 million for the quarter, compared to analyst estimates of $63.43 million. Equities analysts anticipate that Salem Communications Corp. will post $0.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 16th were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Tuesday, June 14th.

In other Salem Communications Corp. news, insider David P. Santrella sold 39,173 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 35,828 shares in the company, valued at $286,982.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Evans sold 9,847 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was sold at an average price of $6.75, for a total transaction of $66,467.25. Following the completion of the sale, the insider now owns 25,000 shares of the company’s stock, valued at $168,750. 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 increased its position in Salem Communications Corp. (NASDAQ:SALM) by 0.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 932,465 shares of the company’s stock after buying an additional 2,586 shares during the period. Dimensional Fund Advisors LP owned 3.66% of Salem Communications Corp. worth $4,644,000 at the end of the most recent reporting period.

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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