Salem Media Group (NASDAQ:SALM) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Salem Media Group (NASDAQ:SALM) in a report published on Tuesday. The firm issued a hold rating on the stock.

Salem Media Group Price Performance

NASDAQ SALM opened at $0.40 on Tuesday. Salem Media Group has a 12 month low of $0.24 and a 12 month high of $1.09. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.64. The firm has a market capitalization of $10.89 million, a PE ratio of -0.24 and a beta of 0.84. The company’s 50 day simple moving average is $0.36 and its 200 day simple moving average is $0.48.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in shares of Salem Media Group during the first quarter valued at approximately $44,000. Goldman Sachs Group Inc. acquired a new position in Salem Media Group in the 1st quarter worth approximately $55,000. Susquehanna International Group LLP boosted its stake in Salem Media Group by 64.7% in the 1st quarter. Susquehanna International Group LLP now owns 41,955 shares of the company’s stock worth $46,000 after purchasing an additional 16,481 shares during the period. Virtu Financial LLC acquired a new position in Salem Media Group in the 2nd quarter worth approximately $38,000. Finally, Citadel Advisors LLC boosted its stake in Salem Media Group by 78.4% in the 2nd quarter. Citadel Advisors LLC now owns 46,268 shares of the company’s stock worth $44,000 after purchasing an additional 20,330 shares during the period. Institutional investors and hedge funds own 10.14% of the company’s stock.

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 33 FM radio stations and 70 radio stations; offers programs on the Family Talk Christian-themed talk format station on SiriusXM Channel 131; provides programming to Christian and family-themed talk stations, music stations, and news talk stations; places advertising on Christian and talk formatted radio stations, and other commercial radio station formats; and operates Salem Podcast Network, a platform for conservative, political, news, and family-oriented podcasts.