Noble Financial set a $4.00 price objective on Salem Media Group (NASDAQ:SALM) in a research note issued to investors on Monday morning, TipRanks reports. The firm currently has a buy rating on the stock.
SALM has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Salem Media Group from a hold rating to a sell rating in a research note on Friday, March 15th. TheStreet upgraded shares of Salem Media Group from a d+ rating to a c- rating in a research note on Tuesday, March 12th. ValuEngine upgraded shares of Salem Media Group from a sell rating to a hold rating in a research note on Monday, February 4th. Finally, Singular Research restated a buy rating on shares of Salem Media Group in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $3.50.
Shares of Salem Media Group stock opened at $2.08 on Monday. The stock has a market capitalization of $52.88 million, a PE ratio of 23.06 and a beta of 1.55. The company has a current ratio of 0.60, a quick ratio of 0.81 and a debt-to-equity ratio of 1.31. Salem Media Group has a 1 year low of $1.85 and a 1 year high of $6.25.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 12.53%. The ex-dividend date of this dividend is Thursday, June 13th. Salem Media Group’s dividend payout ratio is presently 288.89%.
Large investors have recently made changes to their positions in the stock. Bailard Inc. bought a new stake in shares of Salem Media Group during the 1st quarter valued at about $72,000. Bank of New York Mellon Corp grew its position in shares of Salem Media Group by 104.5% during the 4th quarter. Bank of New York Mellon Corp now owns 28,817 shares of the company’s stock valued at $60,000 after buying an additional 14,723 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Salem Media Group by 57.8% during the 4th quarter. Acadian Asset Management LLC now owns 37,402 shares of the company’s stock valued at $78,000 after buying an additional 13,701 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Salem Media Group during the 1st quarter valued at about $107,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Salem Media Group during the 4th quarter valued at about $211,000. 25.05% of the stock is owned by institutional investors and hedge funds.
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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