Algert Global LLC cut its stake in Salem Media Group, Inc. (NASDAQ:SALM) by 0.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 102,654 shares of the company’s stock after selling 600 shares during the period. Algert Global LLC’s holdings in Salem Media Group were worth $729,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Salem Media Group by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,049,571 shares of the company’s stock valued at $7,819,000 after buying an additional 10,771 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Salem Media Group by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 218,211 shares of the company’s stock valued at $1,625,000 after buying an additional 8,955 shares during the period. North Star Investment Management Corp. raised its stake in shares of Salem Media Group by 56.1% in the first quarter. North Star Investment Management Corp. now owns 116,075 shares of the company’s stock valued at $865,000 after buying an additional 41,725 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Salem Media Group during the fourth quarter valued at approximately $299,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Salem Media Group by 72.2% in the first quarter. Goldman Sachs Group Inc. now owns 46,207 shares of the company’s stock valued at $344,000 after buying an additional 19,373 shares during the period. 29.48% of the stock is currently owned by institutional investors.

Shares of Salem Media Group, Inc. (NASDAQ SALM) opened at 6.75 on Friday. The stock has a market capitalization of $175.65 million, a price-to-earnings ratio of 18.29 and a beta of 1.16. Salem Media Group, Inc. has a one year low of $5.00 and a one year high of $8.25. The firm has a 50-day moving average of $7.13 and a 200 day moving average of $7.11.

Salem Media Group (NASDAQ:SALM) last issued its earnings results on Monday, August 7th. The company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. The business had revenue of $66.11 million for the quarter, compared to the consensus estimate of $67.47 million. Salem Media Group had a net margin of 2.75% and a return on equity of 6.27%. On average, equities research analysts predict that Salem Media Group, Inc. will post $0.38 EPS for the current year.

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Several analysts have commented on SALM shares. ValuEngine lowered shares of Salem Media Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Salem Media Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Noble Financial restated a “buy” rating on shares of Salem Media Group in a report on Tuesday.

In other Salem Media Group news, insider David Evans sold 4,910 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $6.94, for a total value of $34,075.40. Following the transaction, the insider now directly owns 32,502 shares in the company, valued at approximately $225,563.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward G. Atsinger III sold 3,528 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $7.45, for a total transaction of $26,283.60. Following the completion of the transaction, the chief executive officer now owns 42,654 shares in the company, valued at $317,772.30. The disclosure for this sale can be found here. Insiders sold a total of 49,094 shares of company stock worth $351,175 over the last 90 days. Insiders own 60.04% of the company’s stock.

About Salem Media Group

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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Institutional Ownership by Quarter for Salem Media Group (NASDAQ:SALM)

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