Salem Media Group (SALM) Given Buy Rating at Noble Financial

Noble Financial reaffirmed their buy rating on shares of Salem Media Group (NASDAQ:SALM) in a research note published on Friday, November 10th.

A number of other brokerages have also recently weighed in on SALM. ValuEngine raised shares of Salem Media Group from a hold rating to a buy rating in a report on Monday, October 2nd. Zacks Investment Research raised shares of Salem Media Group from a sell rating to a hold rating in a report on Wednesday, October 11th.

Shares of Salem Media Group (SALM) remained flat at $$4.75 during mid-day trading on Friday. 73,800 shares of the company’s stock traded hands, compared to its average volume of 36,707. The firm has a market capitalization of $126.89, a PE ratio of 11.83 and a beta of 1.29. 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 has a 52-week low of $4.60 and a 52-week high of $8.25.

Salem Media Group (NASDAQ:SALM) last posted its quarterly earnings data 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 net margin of 1.97% and a return on equity of 5.02%. The company had revenue of $65.43 million for the quarter, compared to the consensus estimate of $68.43 million. sell-side analysts anticipate that Salem Media Group will post 0.17 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Martingale Asset Management L P boosted its position in shares of Salem Media Group by 1.5% during the 2nd quarter. Martingale Asset Management L P now owns 48,326 shares of the company’s stock valued at $344,000 after purchasing an additional 700 shares in the last quarter. Kennedy Capital Management Inc. boosted its position in shares of Salem Media Group by 2.2% during the 2nd quarter. Kennedy Capital Management Inc. now owns 139,644 shares of the company’s stock valued at $991,000 after purchasing an additional 2,961 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of Salem Media Group by 23.7% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 17,200 shares of the company’s stock worth $121,000 after buying an additional 3,300 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Salem Media Group by 11.4% in the second quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock worth $330,000 after buying an additional 4,767 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Salem Media Group by 4.5% in the second quarter. Northern Trust Corp now owns 119,592 shares of the company’s stock worth $849,000 after buying an additional 5,106 shares during the period. Institutional investors own 30.28% of the company’s stock.

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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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