Insider Selling: Salem Media Group Inc (SALM) CFO Sells 4,360 Shares of Stock

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Salem Media Group Inc (NASDAQ:SALM) CFO Evan D. Masyr sold 4,360 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $2.45, for a total transaction of $10,682.00. Following the completion of the sale, the chief financial officer now owns 34,055 shares in the company, valued at approximately $83,434.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

SALM stock traded down $0.07 during trading on Thursday, reaching $2.10. The stock had a trading volume of 72,368 shares, compared to its average volume of 47,633. Salem Media Group Inc has a one year low of $1.85 and a one year high of $6.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.59 and a current ratio of 0.60. The company has a market capitalization of $57.07 million, a price-to-earnings ratio of 23.28 and a beta of 1.55.

Salem Media Group (NASDAQ:SALM) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.03. Salem Media Group had a negative net margin of 1.43% and a positive return on equity of 1.21%. The business had revenue of $60.47 million during the quarter, compared to the consensus estimate of $61.12 million. On average, sell-side analysts forecast that Salem Media Group Inc will post 0.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 12.41%. The ex-dividend date of this dividend is Thursday, June 13th. Salem Media Group’s payout ratio is 288.89%.

Hedge funds have recently modified their holdings of the business. Bailard Inc. bought a new stake in Salem Media Group in the 1st quarter worth about $72,000. Bank of New York Mellon Corp grew its position in Salem Media Group by 104.5% in the 4th quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock worth $60,000 after purchasing an additional 14,723 shares in the last quarter. Acadian Asset Management LLC grew its position in Salem Media Group by 57.8% in the 4th quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock worth $78,000 after purchasing an additional 13,701 shares in the last quarter. Kennedy Capital Management Inc. bought a new stake in Salem Media Group in the 1st quarter worth about $107,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Salem Media Group in the 4th quarter worth about $211,000. 25.12% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on SALM shares. Zacks Investment Research upgraded shares of Salem Media Group from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Tuesday, January 29th. ValuEngine upgraded shares of Salem Media Group from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Noble Financial restated a “buy” rating and issued a $3.50 target price on shares of Salem Media Group in a report on Thursday, January 31st. TheStreet upgraded shares of Salem Media Group from a “d+” rating to a “c-” rating in a report on Tuesday, March 12th. Finally, Singular Research restated a “buy” rating on shares of Salem Media Group in a report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Salem Media Group has an average rating of “Buy” and an average price target of $3.25.

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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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