StockNews.com Initiates Coverage on Salem Media Group (NASDAQ:SALM)

StockNews.com started coverage on shares of Salem Media Group (NASDAQ:SALM) in a report released on Tuesday. The brokerage issued a hold rating on the stock.

Salem Media Group Stock Performance

Shares of SALM opened at $0.37 on Tuesday. The company’s 50 day moving average price is $0.36 and its 200 day moving average price is $0.48. Salem Media Group has a 52 week low of $0.24 and a 52 week high of $1.09. The company has a market capitalization of $10.15 million, a PE ratio of -0.22 and a beta of 0.84. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.64 and a current ratio of 0.66.

Institutional Trading of Salem Media Group

Several large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC grew its position in Salem Media Group by 78.4% in the second quarter. Citadel Advisors LLC now owns 46,268 shares of the company’s stock worth $44,000 after acquiring an additional 20,330 shares in the last quarter. Susquehanna International Group LLP grew its position in Salem Media Group by 64.7% in the first quarter. Susquehanna International Group LLP now owns 41,955 shares of the company’s stock worth $46,000 after acquiring an additional 16,481 shares in the last quarter. Cetera Investment Advisers bought a new stake in Salem Media Group in the fourth quarter worth approximately $28,000. Renaissance Technologies LLC grew its position in Salem Media Group by 32.7% in the third quarter. Renaissance Technologies LLC now owns 143,400 shares of the company’s stock worth $250,000 after acquiring an additional 35,300 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Salem Media Group in the second quarter worth approximately $38,000. 10.14% of the stock is owned by institutional investors.

About Salem Media Group

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 33 FM radio stations and 70 radio stations; offers programs on the Family Talk Christian-themed talk format station on SiriusXM Channel 131; provides programming to Christian and family-themed talk stations, music stations, and news talk stations; places advertising on Christian and talk formatted radio stations, and other commercial radio station formats; and operates Salem Podcast Network, a platform for conservative, political, news, and family-oriented podcasts.