Shares of Salem Media Group Inc (NASDAQ:SALM) hit a new 52-week low on Monday . The company traded as low as $3.95 and last traded at $4.40, with a volume of 312000 shares. The stock had previously closed at $4.50.
SALM has been the subject of a number of research reports. Noble Financial reaffirmed a “buy” rating on shares of Salem Media Group in a research report on Friday, November 10th. ValuEngine raised shares of Salem Media Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.
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 firm has a market capitalization of $106.62, a PE ratio of 10.73 and a beta of 1.15.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be paid a $0.065 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 6.12%. Salem Media Group’s dividend payout ratio (DPR) is presently 130.00%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. acquired a new stake in Salem Media Group during the third quarter worth about $101,000. Cornerstone Capital Management Holdings LLC. raised its stake in Salem Media Group by 23.7% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 17,200 shares of the company’s stock worth $121,000 after acquiring an additional 3,300 shares during the period. Teachers Advisors LLC raised its stake in Salem Media Group by 82.9% during the second quarter. Teachers Advisors LLC now owns 21,735 shares of the company’s stock worth $154,000 after acquiring an additional 9,852 shares during the period. TIAA CREF Investment Management LLC raised its stake in Salem Media Group by 35.2% during the second quarter. TIAA CREF Investment Management LLC now owns 29,558 shares of the company’s stock worth $210,000 after acquiring an additional 7,701 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Salem Media Group by 11.4% during the second quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock worth $330,000 after acquiring an additional 4,767 shares during the period. Hedge funds and other institutional investors own 30.32% of the company’s stock.
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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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