Salem Media Group Inc (NASDAQ:SALM) shares hit a new 52-week high and low on Monday . The stock traded as low as $3.50 and last traded at $3.52, with a volume of 38485 shares. The stock had previously closed at $3.60.
SALM has been the topic of several research reports. Noble Financial reaffirmed a “buy” rating on shares of Salem Media Group in a research report on Friday, March 16th. Zacks Investment Research raised Salem Media Group from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, ValuEngine lowered Salem Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st.
The company has a quick ratio of 1.09, a current ratio of 1.11 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $94.21, a price-to-earnings ratio of 15.91 and a beta of 1.11.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th were given a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 7.22%. The ex-dividend date of this dividend was Tuesday, March 13th. Salem Media Group’s dividend payout ratio (DPR) is presently 118.18%.
Large investors have recently added to or reduced their stakes in the business. North Star Investment Management Corp. raised its position in Salem Media Group by 70.6% in the fourth quarter. North Star Investment Management Corp. now owns 198,052 shares of the company’s stock valued at $891,000 after purchasing an additional 81,977 shares during the period. First Wilshire Securities Management Inc. purchased a new position in Salem Media Group in the fourth quarter valued at about $825,000. Dimensional Fund Advisors LP raised its position in Salem Media Group by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,140,051 shares of the company’s stock valued at $7,524,000 after purchasing an additional 38,142 shares during the period. Algert Global LLC raised its position in Salem Media Group by 11.4% in the third quarter. Algert Global LLC now owns 114,326 shares of the company’s stock valued at $755,000 after purchasing an additional 11,672 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in Salem Media Group in the third quarter valued at about $101,000. 30.46% of the stock is currently owned by institutional investors.
Salem Media Group Company Profile
Salem Media Group, Inc, formerly Salem Communications Corporation, is a multi-media company specializing in Christian and Conservative content, with media properties consisting of radio broadcasting, digital media, and book, magazine and newsletter publishing. The Company operates through three segments: Broadcast, Digital Media and Publishing.
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