Insider Buying: Salem Media Group Inc (NASDAQ:SALM) Chairman Acquires 18,161 Shares of Stock

Salem Media Group Inc (NASDAQ:SALM) Chairman Stuart W. Epperson purchased 18,161 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were bought at an average price of $0.89 per share, with a total value of $16,163.29. Following the purchase, the chairman now owns 103,934 shares in the company, valued at $92,501.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of SALM stock traded up $0.07 during trading hours on Tuesday, hitting $1.02. 112,500 shares of the company were exchanged, compared to its average volume of 74,882. The firm has a fifty day simple moving average of $1.22 and a 200 day simple moving average of $1.44. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. Salem Media Group Inc has a 52-week low of $0.65 and a 52-week high of $2.68. The stock has a market capitalization of $24.15 million, a price-to-earnings ratio of -0.97 and a beta of 1.56.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be paid a dividend of $0.025 per share. The ex-dividend date is Monday, March 23rd. This represents a $0.10 annualized dividend and a dividend yield of 9.80%.

Hedge funds have recently modified their holdings of the company. Atria Investments LLC purchased a new stake in shares of Salem Media Group during the 4th quarter worth approximately $49,000. Renaissance Technologies LLC increased its stake in shares of Salem Media Group by 8.1% during the 4th quarter. Renaissance Technologies LLC now owns 250,598 shares of the company’s stock worth $361,000 after purchasing an additional 18,700 shares during the last quarter. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Salem Media Group during the 4th quarter worth approximately $50,000. Institutional investors own 17.45% of the company’s stock.

About Salem Media Group

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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Insider Buying and Selling by Quarter for Salem Media Group (NASDAQ:SALM)

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