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. “
A number of other analysts have also recently commented on SALM. ValuEngine upgraded shares of Salem Media Group from a hold rating to a buy rating in a research note on Wednesday, June 3rd. Noble Financial restated a buy rating and set a $2.00 price target on shares of Salem Media Group in a research note on Tuesday, June 2nd.
Salem Media Group (NASDAQ:SALM) last issued its quarterly earnings data on Monday, June 1st. The company reported ($2.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($2.09). The company had revenue of $58.25 million for the quarter. Salem Media Group had a negative net margin of 33.12% and a negative return on equity of 27.51%. On average, analysts anticipate that Salem Media Group will post -2.04 EPS for the current year.
A hedge fund recently bought a new stake in Salem Media Group stock. Atria Investments LLC acquired a new position in Salem Media Group Inc (NASDAQ:SALM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 34,209 shares of the company’s stock, valued at approximately $49,000. Atria Investments LLC owned 0.13% of Salem Media Group at the end of the most recent reporting period. 15.17% of the stock is currently 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 radio networks, which produce and distribute talk, news, and music programming to radio stations, as well as sells commercial airtime.
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