Salem Media Group Inc. (NASDAQ: SALM) is 175.00% higher on its value in year-to-date trading and has touched a low of $0.69 and a high of $3.94 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SALM stock was last observed hovering at around $2.73 in the last trading session, with the day’s gains setting it 0.13% off its average median price target of $4.13 for the next 12 months. It is also 32.71% off the consensus price target high of $4.25 offered by 2 analysts, but current levels are 28.5% higher than the price target low of $4.00 for the same period.
Currently trading at $2.86, the stock is -4.54% and 13.85% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.12 million and changing 4.76% at the moment leaves the stock 90.69% off its SMA200. SALM registered 214.25% gain for a year compared to 6-month gain of 172.38%. The firm has a 50-day simple moving average (SMA 50) of $2.8997 and a 200-day simple moving average (SMA200) of $1.5783.
The stock witnessed a 12.16% loss in the last 1 month and extending the period to 3 months gives it a 176.33%, and is -8.33% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 12.96% over the week and 14.27% over the month.
Salem Media Group Inc. (SALM) has around 1076 employees, a market worth around $81.08M and $236.20M in sales. Fwd P/E is 22.00. Profit margin for the company is -22.90%. Distance from 52-week low is 314.43% and -27.50% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.70%).
Salem Media Group Inc. (SALM) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Salem Media Group Inc. (SALM) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 1.50, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Salem Media Group Inc. is expected to release its quarterly report on 05/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.1 with sales reaching $57.61M over the same period.The EPS is expected to shrink by -92.90% this year, but quarterly earnings will post 4.30% year-over-year.
Salem Media Group Inc. (SALM) Top Institutional Holders
36 institutions hold shares in Salem Media Group Inc. (SALM), with 12.65M shares held by insiders accounting for 47.39% while institutional investors hold 18.73% of the company’s shares. The shares outstanding are 26.68M, and float is at 10.99M with Short Float at 3.68%. Institutions hold 9.85% of the Float.
The top institutional shareholder in the company is Barclays PLC with over 0.57 million shares valued at $0.6 million. The investor’s holdings represent 2.72% of the SALM Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 0.34 million shares valued at $0.35 million to account for 1.61% of the shares outstanding. The other top investors are Blackrock Inc. which holds 0.34 million shares representing 1.59% and valued at over $0.35 million, while Gamco Investors Inc holds 1.54% of the shares totaling 0.33 million with a market value of $0.34 million.
Salem Media Group Inc. (SALM) Insider Activity
A total of 10 insider transactions have happened at Salem Media Group Inc. (SALM) in the last six months, with sales accounting for 6 and purchases happening 4 times. The most recent transaction is an insider sale by Santrella David P ,the company’sPresident – Broadcast Media. SEC filings show that Santrella David P sold 2,030 shares of the company’s common stock on Mar 12 at a price of $3.34 per share for a total of $6776.0. Following the sale, the insider now owns 35851.0 shares.
Salem Media Group Inc. disclosed in a document filed with the SEC on Mar 11 that Santrella David P (President – Broadcast Media) sold a total of 12,254 shares of the company’s common stock. The trade occurred on Mar 11 and was made at $3.29 per share for $40283.0. Following the transaction, the insider now directly holds 35851.0 shares of the SALM stock.
Still, SEC filings show that on Mar 10, Santrella David P (President – Broadcast Media) disposed off 5,716 shares at an average price of $3.27 for $18699.0. The insider now directly holds 35,851 shares of Salem Media Group Inc. (SALM).
Salem Media Group Inc. (SALM): Who are the competitors?
The company’s main competitors (and peers) include Entravision Communications Corporation (EVC) that is trading 89.29% up over the past 12 months and Saga Communications Inc. (SGA) that is -18.04% lower over the same period. Short interest in the company’s stock has fallen -25.5% from the last report on Feb 11, 2021 to stand at a total of 0.51 million short shares sold with a short interest ratio of 0.39.