Salem Media Group, Inc. (NASDAQ:SALM) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.65 and traded as high as $3.12. Salem Media Group shares last traded at $2.90, with a volume of 430,559 shares trading hands.
Separately, Zacks Investment Research upgraded Salem Media Group from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research report on Thursday.
The business has a 50-day simple moving average of $2.94 and a 200 day simple moving average of $1.66. The stock has a market cap of $72.31 million, a P/E ratio of -1.17 and a beta of 1.66. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.62.
In related news, EVP Christopher J. Henderson sold 9,679 shares of the company’s stock in a transaction dated Friday, March 5th. The stock was sold at an average price of $2.80, for a total transaction of $27,101.20. Following the sale, the executive vice president now owns 9,679 shares in the company, valued at approximately $27,101.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 19,825 shares of company stock worth $56,533. 59.66% of the stock is owned by corporate insiders.
A hedge fund recently bought a new stake in Salem Media Group stock. Barclays PLC bought a new stake in shares of Salem Media Group, Inc. (NASDAQ:SALM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 575,000 shares of the company’s stock, valued at approximately $598,000. Barclays PLC owned approximately 2.16% of Salem Media Group at the end of the most recent reporting period. Institutional investors own 8.17% of the company’s stock.
About Salem Media Group (NASDAQ:SALM)
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, website, satellite services, and music networking to radio stations, as well as sells commercial airtime.
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