Salem Media Group (SALM) Stock Rating Lowered by TheStreet

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Salem Media Group (NASDAQ:SALM) was downgraded by equities research analysts at TheStreet from a “c-” rating to a “d” rating in a note issued to investors on Monday, TheStreetRatingsTable reports.

Several other brokerages have also recently commented on SALM. Zacks Investment Research cut shares of Salem Media Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. ValuEngine upgraded shares of Salem Media Group from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Noble Financial reiterated a “buy” rating and set a $3.50 target price on shares of Salem Media Group in a research report on Thursday, January 31st. Finally, Singular Research reiterated a “buy” rating on shares of Salem Media Group in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $3.25.

Shares of Salem Media Group stock opened at $2.25 on Monday. The firm has a market cap of $57.35 million, a price-to-earnings ratio of 25.00 and a beta of 1.67. Salem Media Group has a 52 week low of $2.03 and a 52 week high of $6.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.83 and a quick ratio of 0.81.

Salem Media Group (NASDAQ:SALM) last issued its earnings results on Tuesday, March 12th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). The business had revenue of $67.19 million for the quarter, compared to the consensus estimate of $66.50 million. Salem Media Group had a negative net margin of 1.21% and a positive return on equity of 1.42%. As a group, sell-side analysts forecast that Salem Media Group will post 0.09 EPS for the current year.

Several institutional investors have recently modified their holdings of SALM. Ancora Advisors LLC grew its holdings in shares of Salem Media Group by 55.9% in the 4th quarter. Ancora Advisors LLC now owns 408,915 shares of the company’s stock valued at $855,000 after buying an additional 146,564 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in shares of Salem Media Group in the 4th quarter valued at $211,000. Bank of New York Mellon Corp grew its holdings in shares of Salem Media Group by 104.5% in the 4th quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock valued at $60,000 after buying an additional 14,723 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Salem Media Group by 57.8% in the 4th quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock valued at $78,000 after buying an additional 13,701 shares during the period. Finally, North Star Investment Management Corp. grew its holdings in shares of Salem Media Group by 1.7% in the 4th quarter. North Star Investment Management Corp. now owns 387,290 shares of the company’s stock valued at $809,000 after buying an additional 6,531 shares during the period. Institutional investors own 25.44% of the company’s stock.

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 radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.

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