Salem Media Group Inc (NASDAQ:SALM) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $3.85 and last traded at $3.85, with a volume of 10257 shares. The stock had previously closed at $3.95.
Several research analysts recently issued reports on the company. Noble Financial reissued a “buy” rating on shares of Salem Media Group in a research note on Friday. Zacks Investment Research raised Salem Media Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Finally, ValuEngine cut Salem Media Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st.
The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market cap of $103.34, a PE ratio of 17.95 and a beta of 1.18.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.26 annualized dividend and a yield of 6.72%. Salem Media Group’s dividend payout ratio (DPR) is presently 27.66%.
A number of hedge funds and other institutional investors have recently made changes to their positions in SALM. Macquarie Group Ltd. bought a new stake in Salem Media Group during the 3rd quarter valued at $101,000. Teachers Advisors LLC boosted its position in Salem Media Group by 82.9% during the 2nd quarter. Teachers Advisors LLC now owns 21,735 shares of the company’s stock valued at $154,000 after acquiring an additional 9,852 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in Salem Media Group during the 4th quarter valued at $158,000. Wells Fargo & Company MN boosted its position in Salem Media Group by 327.9% during the 4th quarter. Wells Fargo & Company MN now owns 45,520 shares of the company’s stock valued at $206,000 after acquiring an additional 34,881 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Salem Media Group by 35.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 29,558 shares of the company’s stock valued at $210,000 after acquiring an additional 7,701 shares in the last quarter. 30.46% of the stock is currently owned by institutional investors and hedge funds.
Salem Media Group Company Profile
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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