First Wilshire Securities Management Inc. raised its stake in shares of Salem Media Group Inc (NASDAQ:SALM) by 119.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,185 shares of the company’s stock after purchasing an additional 218,865 shares during the quarter. First Wilshire Securities Management Inc.’s holdings in Salem Media Group were worth $1,448,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SALM. Deutsche Bank AG increased its stake in Salem Media Group by 222.0% during the 4th quarter. Deutsche Bank AG now owns 84,675 shares of the company’s stock valued at $379,000 after purchasing an additional 58,376 shares in the last quarter. Millennium Management LLC acquired a new position in Salem Media Group during the 4th quarter valued at approximately $253,000. Westfield Capital Management Co. LP acquired a new position in Salem Media Group during the 1st quarter valued at approximately $182,000. Dimensional Fund Advisors LP increased its stake in Salem Media Group by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,201,725 shares of the company’s stock valued at $4,326,000 after purchasing an additional 42,216 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in Salem Media Group during the 4th quarter valued at approximately $158,000. Institutional investors and hedge funds own 31.09% of the company’s stock.
SALM has been the topic of several recent research reports. Zacks Investment Research raised shares of Salem Media Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 27th. Noble Financial reaffirmed a “buy” rating on shares of Salem Media Group in a report on Friday, March 16th. Finally, ValuEngine downgraded shares of Salem Media Group from a “buy” rating to a “hold” rating in a report on Monday, March 19th.
Salem Media Group (NASDAQ:SALM) last released its quarterly earnings data on Thursday, March 15th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.02 by $0.06. The business had revenue of $67.21 million for the quarter, compared to the consensus estimate of $66.70 million. Salem Media Group had a net margin of 9.30% and a return on equity of 2.39%. research analysts expect that Salem Media Group Inc will post 0.32 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 5.59%. The ex-dividend date is Thursday, June 14th. Salem Media Group’s dividend payout ratio (DPR) is currently 118.18%.
Salem Media Group 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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