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. “
SALM has been the topic of several other research reports. ValuEngine raised shares of Salem Media Group from a sell rating to a hold rating in a research note on Thursday, August 1st. Noble Financial reissued a buy rating and issued a $3.25 price objective on shares of Salem Media Group in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Salem Media Group presently has an average rating of Hold and a consensus target price of $2.88.
In other Salem Media Group news, CFO Evan D. Masyr sold 11,970 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $2.11, for a total transaction of $25,256.70. Following the sale, the chief financial officer now owns 23,068 shares of the company’s stock, valued at $48,673.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 45,881 shares of company stock worth $104,855 in the last ninety days. Insiders own 55.66% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. OneAscent Financial Services LLC acquired a new position in Salem Media Group during the second quarter valued at approximately $91,000. Vanguard Group Inc. raised its position in Salem Media Group by 2.6% during the second quarter. Vanguard Group Inc. now owns 365,676 shares of the company’s stock valued at $889,000 after purchasing an additional 9,302 shares in the last quarter. Renaissance Technologies LLC raised its position in Salem Media Group by 19.9% during the second quarter. Renaissance Technologies LLC now owns 192,598 shares of the company’s stock valued at $468,000 after purchasing an additional 32,000 shares in the last quarter. Acadian Asset Management LLC raised its position in Salem Media Group by 52.9% during the second quarter. Acadian Asset Management LLC now owns 63,327 shares of the company’s stock valued at $153,000 after purchasing an additional 21,922 shares in the last quarter. Finally, Bailard Inc. raised its position in Salem Media Group by 102.5% during the second quarter. Bailard Inc. now owns 57,309 shares of the company’s stock valued at $139,000 after purchasing an additional 29,009 shares in the last quarter. 23.10% of the stock is currently owned by institutional investors and hedge funds.
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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