Salem Media Group (SALM) Stock Rating Lowered by Zacks Investment Research

Salem Media Group (NASDAQ:SALM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Salem Media Group, Inc. is a radio broadcaster, Internet content provider and magazine and book publisher specializing in Christian and Conservative content. Its operating segment consists of Broadcast, Digital Media and Publishing. Broadcasting segment is engaged in the ownership and operation of radio stations in metropolitan markets. Digital Media segment focuses on Web-based platform designed. Publishing segment consists of Regnery Publishing, Xulon Press and Salem Publishing. Salem Media Group, Inc., formerly known as Salem Communications Corporation, is headquartered in Camarillo, California. “

Several other research analysts also recently commented on SALM. TheStreet raised Salem Media Group from a “d+” rating to a “c-” rating in a research note on Tuesday, March 12th. Noble Financial reaffirmed a “buy” rating and issued a $3.50 price objective on shares of Salem Media Group in a research note on Thursday, January 31st. Finally, ValuEngine raised Salem Media Group from a “strong sell” rating to a “sell” rating in a research note on Friday, January 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Salem Media Group has a consensus rating of “Hold” and a consensus price target of $3.25.

NASDAQ SALM opened at $2.79 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.88 and a current ratio of 0.89. Salem Media Group has a 52 week low of $2.03 and a 52 week high of $6.25. The stock has a market capitalization of $73.06 million, a PE ratio of 31.00 and a beta of 1.68.

Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Salem Media Group had a positive return on equity of 1.41% and a negative net margin of 1.21%. The company had revenue of $67.19 million during the quarter, compared to the consensus estimate of $66.50 million. On average, equities analysts predict that Salem Media Group will post 0.1 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of Salem Media Group by 4.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,281,706 shares of the company’s stock worth $4,358,000 after purchasing an additional 57,252 shares in the last quarter. Ancora Advisors LLC grew its position in shares of Salem Media Group by 55.9% during the fourth quarter. Ancora Advisors LLC now owns 408,915 shares of the company’s stock worth $855,000 after purchasing an additional 146,564 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Salem Media Group by 1.7% during the fourth quarter. North Star Investment Management Corp. now owns 387,290 shares of the company’s stock worth $809,000 after purchasing an additional 6,531 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Salem Media Group during the fourth quarter worth about $211,000. Finally, Shell Asset Management Co. purchased a new stake in shares of Salem Media Group during the third quarter worth about $235,000. 25.44% of the stock is currently owned by hedge funds and other 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 radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.

Further Reading: Buy-Side Analysts

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