Salem Media Group (NASDAQ:SALM) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Salem Media Group (NASDAQ:SALM) in a research note issued to investors on Tuesday. The firm issued a hold rating on the stock.

Salem Media Group Stock Performance

Shares of NASDAQ:SALM opened at $0.35 on Tuesday. 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 business’s fifty day moving average price is $0.36 and its two-hundred day moving average price is $0.48. Salem Media Group has a fifty-two week low of $0.24 and a fifty-two week high of $1.08. The stock has a market capitalization of $9.53 million, a price-to-earnings ratio of -0.21 and a beta of 0.84.

Institutional Investors Weigh In On Salem Media Group

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