The analysts of StockNews.com began to cover the shares of Salem Media Group (NASDAQ: SALM – Get a rating) in a research report released Thursday. The company has placed a “holding” rating on the stock.
Salem Media Group stock performance
SALM NASDAQ opened at $2.36 on Thursday. The company’s 50-day moving average is $2.28 and its 200-day moving average is $2.89. Salem Media Group has a 12-month low of $1.89 and a 12-month high of $6.82. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt ratio of 0.82. The company has a market capitalization of $64.10 million, a P/E ratio of 1.30 and a beta of 1.20.
Salem Media Group Institutional Trading
Several hedge funds and other institutional investors have recently changed their holdings in SALM. Virtu Financial LLC purchased a new stake in Salem Media Group during Q2 for approximately $38,000. Jane Street Group LLC purchased a new stake in Salem Media Group during Q1 for approximately $44,000. Goldman Sachs Group Inc. acquired a new stake in Salem Media Group during Q1 for a value of approximately $55,000. PDT Partners LLC purchased a new stake in Salem Media Group during Q4 for a value of approximately $80,000. Finally, Bank of Montreal Can acquired a new stake in Salem Media Group during the 2nd quarter for a value of approximately $205,000. Institutional investors hold 21.62% of the company’s shares.
Salem Media Group Company Profile
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 32 FM radio stations and 69 AM radio stations; features programming on the Christian-themed talk-format station Family Talk on SiriusXM Channel 131; provides programming to Christian and family talk stations, music stations, and news talk stations; placing advertising on Christian and talk format radio stations, and other commercial radio station formats; and operates Salem Podcast Network, a platform for conservative, political, news and family-oriented podcasts.
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