Salem Media Group (NASDAQ:SALM) Research Coverage Started at StockNews.com

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

Salem Media Group Stock Performance

Salem Media Group stock opened at $0.37 on Tuesday. Salem Media Group has a 12-month low of $0.24 and a 12-month high of $1.09. The company has a market capitalization of $10.15 million, a price-to-earnings ratio of -0.22 and a beta of 0.84. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.64. The firm’s fifty day moving average price is $0.36 and its 200 day moving average price is $0.48.

Institutional Investors Weigh In On Salem Media Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SALM. Vanguard Group Inc. grew its holdings in Salem Media Group by 9.7% during the 1st quarter. Vanguard Group Inc. now owns 553,985 shares of the company’s stock worth $1,878,000 after acquiring an additional 49,025 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Salem Media Group by 75.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 163,361 shares of the company’s stock worth $554,000 after acquiring an additional 70,367 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Salem Media Group by 32.7% during the 3rd 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. Bank of Montreal Can acquired a new position in Salem Media Group during the 2nd quarter worth $205,000. Finally, Citadel Advisors LLC grew its holdings in Salem Media Group by 78.4% during the 2nd 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. Hedge funds and other institutional investors own 10.14% of the company’s stock.

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.