Insider Selling: Salem Media Group Inc (NASDAQ:SALM) CFO Sells 11,970 Shares of Stock
Salem Media Group Inc (NASDAQ:SALM) CFO Evan D. Masyr sold 11,970 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $2.11, for a total value of $25,256.70. Following the completion of the sale, the chief financial officer now directly owns 23,068 shares in the company, valued at $48,673.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Salem Media Group stock traded down $0.13 during trading hours on Friday, hitting $2.36. The stock had a trading volume of 67,991 shares, compared to its average volume of 85,665. The company has a current ratio of 0.60, a quick ratio of 0.59 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $65.20 million, a PE ratio of 22.64 and a beta of 1.45. Salem Media Group Inc has a one year low of $1.85 and a one year high of $6.25.
Salem Media Group (NASDAQ:SALM) last posted its earnings results on Friday, May 10th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $60.47 million during the quarter, compared to the consensus estimate of $61.12 million. Salem Media Group had a positive return on equity of 1.21% and a negative net margin of 1.43%. As a group, analysts predict that Salem Media Group Inc will post 0.14 earnings per share for the current fiscal year.
Several analysts recently weighed in on SALM shares. Noble Financial set a $4.00 price objective on Salem Media Group and gave the company a “buy” rating in a research note on Monday, May 13th. TheStreet raised Salem Media Group from a “d+” rating to a “c-” rating in a research note on Tuesday, March 12th. Zacks Investment Research lowered Salem Media Group from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, Singular Research reaffirmed a “buy” rating on shares of Salem Media Group in a research note on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $3.25.
A number of institutional investors have recently bought and sold shares of the business. Kennedy Capital Management Inc. bought a new position in Salem Media Group in the first quarter valued at about $107,000. Bailard Inc. bought a new position in Salem Media Group in the first quarter valued at about $72,000. Ancora Advisors LLC raised its position in Salem Media Group by 55.9% in the fourth quarter. Ancora Advisors LLC now owns 408,915 shares of the company’s stock valued at $855,000 after purchasing an additional 146,564 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in Salem Media Group in the fourth quarter valued at about $211,000. Finally, Bank of New York Mellon Corp raised its position in Salem Media Group by 104.5% in the fourth quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock valued at $60,000 after purchasing an additional 14,723 shares during the last quarter. Hedge funds and other institutional investors own 25.06% 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 radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.
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