Salem Media Group (NASDAQ:SALM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, January 10th.
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. “
Several other research analysts have also recently weighed in on SALM. ValuEngine cut shares of Salem Media Group from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Noble Financial reaffirmed a “buy” rating on shares of Salem Media Group in a research report on Friday, November 10th.
Salem Media Group (NASDAQ:SALM) last announced its earnings results on Tuesday, November 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). Salem Media Group had a return on equity of 5.02% and a net margin of 1.97%. The firm had revenue of $65.43 million for the quarter, compared to the consensus estimate of $68.43 million. equities research analysts predict that Salem Media Group will post 0.17 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in SALM. Macquarie Group Ltd. purchased a new stake in Salem Media Group during the 3rd quarter valued at $101,000. Cornerstone Capital Management Holdings LLC. raised its holdings in Salem Media Group by 23.7% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 17,200 shares of the company’s stock worth $121,000 after purchasing an additional 3,300 shares in the last quarter. Teachers Advisors LLC raised its holdings in Salem Media Group by 82.9% in the 2nd quarter. Teachers Advisors LLC now owns 21,735 shares of the company’s stock worth $154,000 after purchasing an additional 9,852 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Salem Media Group by 35.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 29,558 shares of the company’s stock worth $210,000 after purchasing an additional 7,701 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Salem Media Group by 11.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 46,434 shares of the company’s stock worth $330,000 after acquiring an additional 4,767 shares in the last quarter. 30.32% of the stock is owned by institutional investors.
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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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