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.

Salem Media Group (NASDAQ:SALM) last announced its earnings results on Wednesday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $65.53 million for the quarter, compared to the consensus estimate of $65.85 million. Salem Media Group had a net margin of 8.46% and a return on equity of 2.42%. As a group, equities research analysts forecast that Salem Media Group Inc will post 0.2 EPS for the current year.

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.

WARNING: This article was published by Daily Political and is the property of of Daily Political. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright legislation. The original version of this article can be read at https://www.dailypolitical.com/2018/11/21/salem-media-group-salm-reaches-new-12-month-low-at-2-85.html.

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.

See Also: What is a Call Option?

Receive News & Ratings for Salem Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salem Media Group and related companies with MarketBeat.com's FREE daily email newsletter.