Salem Media Group (NASDAQ:SALM) Research Coverage Started at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Salem Media Group (NASDAQ:SALM) in a research note issued on Tuesday. The brokerage set a “hold” rating on the stock.

Salem Media Group Stock Performance

NASDAQ SALM opened at $0.41 on Tuesday. Salem Media Group has a 1-year low of $0.24 and a 1-year high of $1.09. The company has a market capitalization of $11.27 million, a P/E ratio of -0.25 and a beta of 0.84. The business has a 50 day moving average price of $0.36 and a 200 day moving average price of $0.48. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.64.

Hedge Funds Weigh In On Salem Media Group

Several hedge funds have recently bought and sold shares of SALM. Citadel Advisors LLC increased its position in Salem Media Group by 78.4% during the second quarter. Citadel Advisors LLC now owns 46,268 shares of the company’s stock worth $44,000 after buying an additional 20,330 shares in the last quarter. Susquehanna International Group LLP increased its position in Salem Media Group by 64.7% during the first quarter. Susquehanna International Group LLP now owns 41,955 shares of the company’s stock worth $46,000 after buying an additional 16,481 shares in the last quarter. Cetera Investment Advisers purchased a new position in Salem Media Group during the fourth quarter worth $28,000. Renaissance Technologies LLC increased its position in Salem Media Group by 32.7% during the third quarter. Renaissance Technologies LLC now owns 143,400 shares of the company’s stock worth $250,000 after buying an additional 35,300 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Salem Media Group during the second quarter worth $38,000. 10.14% of the stock is owned by hedge funds and other institutional investors.

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.