Salem Media Group (SALM) Reaches New 12-Month Low at $2.85
Shares of Salem Media Group Inc (NASDAQ:SALM) hit a new 52-week low on Tuesday . The company traded as low as $2.85 and last traded at $2.88, with a volume of 1610 shares trading hands. The stock had previously closed at $2.95.
A number of analysts recently weighed in on SALM shares. Noble Financial reiterated a “hold” rating on shares of Salem Media Group in a research report on Wednesday, August 15th. TheStreet downgraded shares of Salem Media Group from a “c” rating to a “d+” rating in a research report on Tuesday, August 21st. Zacks Investment Research upgraded shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, ValuEngine upgraded shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $7.63.
The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $78.56 million, a P/E ratio of 13.09 and a beta of 1.20.
Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its holdings in Salem Media Group by 470.8% during the 2nd quarter. Acadian Asset Management LLC now owns 23,701 shares of the company’s stock worth $122,000 after buying an additional 19,549 shares during the period. LMR Partners LLP acquired a new stake in Salem Media Group during the 2nd quarter worth approximately $166,000. O Shaughnessy Asset Management LLC acquired a new stake in Salem Media Group during the 3rd quarter worth approximately $122,000. Paloma Partners Management Co acquired a new stake in Salem Media Group during the 2nd quarter worth approximately $291,000. Finally, Shell Asset Management Co. acquired a new stake in Salem Media Group during the 3rd quarter worth approximately $235,000. Hedge funds and other institutional investors own 29.01% of the company’s stock.
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Salem Media Group Company Profile (NASDAQ:SALM)
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 radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.
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