Insider Selling: Salem Media Group Inc (SALM) EVP Sells 4,365 Shares of Stock

Salem Media Group Inc (NASDAQ:SALM) EVP Christopher J. Henderson sold 4,365 shares of the firm’s stock in a transaction on Friday, July 6th. The shares were sold at an average price of $6.25, for a total value of $27,281.25. Following the completion of the sale, the executive vice president now owns 4,365 shares in the company, valued at $27,281.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Salem Media Group traded down $0.60, reaching $5.45, during midday trading on Tuesday, according to Marketbeat Ratings. 200,012 shares of the company traded hands, compared to its average volume of 177,544. Salem Media Group Inc has a 52 week low of $3.10 and a 52 week high of $7.45. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 1.08. The stock has a market cap of $155.70 million, a P/E ratio of 24.77 and a beta of 1.18.

Salem Media Group (NASDAQ:SALM) last issued its quarterly earnings data on Tuesday, May 8th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.07. Salem Media Group had a net margin of 9.30% and a return on equity of 2.39%. The business had revenue of $63.80 million for the quarter, compared to analysts’ expectations of $63.53 million. sell-side analysts anticipate that Salem Media Group Inc will post 0.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 15th were paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend was Thursday, June 14th. Salem Media Group’s dividend payout ratio is currently 118.18%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stone Ridge Asset Management LLC bought a new stake in shares of Salem Media Group during the fourth quarter valued at about $158,000. Wells Fargo & Company MN raised its stake in shares of Salem Media Group by 327.9% during the fourth quarter. Wells Fargo & Company MN now owns 45,520 shares of the company’s stock valued at $206,000 after purchasing an additional 34,881 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Salem Media Group during the first quarter valued at about $182,000. Millennium Management LLC bought a new stake in shares of Salem Media Group during the fourth quarter valued at about $253,000. Finally, Municipal Employees Retirement System of Michigan raised its stake in shares of Salem Media Group by 25.5% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 58,650 shares of the company’s stock valued at $264,000 after purchasing an additional 11,900 shares in the last quarter. Institutional investors and hedge funds own 31.08% of the company’s stock.

A number of equities research analysts have issued reports on SALM shares. Noble Financial reiterated a “buy” rating on shares of Salem Media Group in a research note on Friday, March 16th. ValuEngine cut Salem Media Group from a “buy” rating to a “hold” rating in a research note on Monday, March 19th. Zacks Investment Research cut Salem Media Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 21st. Finally, Gabelli reiterated a “buy” rating on shares of Salem Media Group in a research note on Wednesday, June 20th.

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 radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.

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