Salem Media Group (SALM) Stock Rating Lowered by ValuEngine

Salem Media Group (NASDAQ:SALM) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

A number of other research firms have also recently commented on SALM. Zacks Investment Research raised Salem Media Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Noble Financial reissued a “buy” rating on shares of Salem Media Group in a report on Friday, November 10th.

Salem Media Group (NASDAQ:SALM) opened at $4.50 on Friday. Salem Media Group has a twelve month low of $3.90 and a twelve month high of $8.25. The company has a market capitalization of $117.73, a price-to-earnings ratio of 22.50 and a beta of 1.16. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.17.

Salem Media Group (NASDAQ:SALM) last announced its earnings results on Tuesday, November 7th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.16). Salem Media Group had a return on equity of 5.02% and a net margin of 1.97%. The company had revenue of $65.43 million during the quarter, compared to the consensus estimate of $68.43 million. analysts anticipate that Salem Media Group will post 0.17 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. Macquarie Group Ltd. bought a new stake in Salem Media Group during the third quarter valued at about $101,000. Cornerstone Capital Management Holdings LLC. raised its holdings in Salem Media Group by 23.7% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 17,200 shares of the company’s stock valued at $121,000 after acquiring an additional 3,300 shares during the period. Teachers Advisors LLC raised its holdings in Salem Media Group by 82.9% during the second quarter. Teachers Advisors LLC now owns 21,735 shares of the company’s stock valued at $154,000 after acquiring an additional 9,852 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Salem Media Group by 35.2% during the second quarter. TIAA CREF Investment Management LLC now owns 29,558 shares of the company’s stock valued at $210,000 after acquiring an additional 7,701 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Salem Media Group by 11.4% during the second quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock valued at $330,000 after acquiring an additional 4,767 shares during the period. 30.32% of the stock is currently owned by institutional investors and hedge funds.

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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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