Salem Media Group (SALM) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Salem Media Group (NASDAQ:SALM) from a sell rating to a hold rating in a report released on Tuesday.
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. “
A number of other equities analysts have also recently issued reports on the company. Noble Financial reiterated a buy rating on shares of Salem Media Group in a report on Friday, November 10th. ValuEngine cut Salem Media Group from a buy rating to a hold rating in a report on Sunday, December 31st.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 14th will be issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 6.34%. The ex-dividend date is Tuesday, March 13th. Salem Media Group’s dividend payout ratio (DPR) is presently 130.00%.
A number of hedge funds have recently added to or reduced their stakes in SALM. FMR LLC bought a new position in Salem Media Group during the 2nd quarter worth about $1,330,000. First Wilshire Securities Management Inc. bought a new position in Salem Media Group during the 4th quarter worth about $825,000. North Star Investment Management Corp. increased its holdings in Salem Media Group by 70.6% during the 4th quarter. North Star Investment Management Corp. now owns 198,052 shares of the company’s stock worth $891,000 after purchasing an additional 81,977 shares in the last quarter. Nationwide Fund Advisors increased its holdings in Salem Media Group by 664.7% during the 2nd quarter. Nationwide Fund Advisors now owns 82,141 shares of the company’s stock worth $583,000 after purchasing an additional 71,400 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Salem Media Group by 222.0% during the 4th quarter. Deutsche Bank AG now owns 84,675 shares of the company’s stock worth $379,000 after purchasing an additional 58,376 shares in the last quarter. Hedge funds and other institutional investors own 29.37% of the company’s stock.
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About Salem Media Group
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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