Salem Media Group, Inc. (NASDAQ:SALM) has a beta value of 1.62 and has seen 560,792 shares traded in the last trading session. The company, currently valued at $26.95 Million, closed the last trade at $1.01 per share which meant it lost $0 on the day or 0% during that session. The SALM stock price is -159.41% off its 52-week high price of $2.62 and 35.64% above the 52-week low of $0.65. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.11 Million shares traded. The 3-month trading volume is 1.98 Million shares.
The consensus among analysts is that Salem Media Group, Inc. (SALM) is a Buy stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 2 have rated it as a Hold, with 2 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.01.
Salem Media Group, Inc. (NASDAQ:SALM) trade information
Despite being 0% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Monday, Oct 12 when the SALM stock price touched $1.06 or saw a rise of 4.72%. Year-to-date, Salem Media Group, Inc. shares have moved -29.86%, while the 5-day performance has seen it change 2.94%. Over the past 30 days, the shares of Salem Media Group, Inc. (NASDAQ:SALM) have changed -11.4%. Short interest in the company has seen 1.13 Million shares shorted with days to cover at 0.57.
Wall Street analysts have a consensus price target for the stock at $2.13, which means that the shares’ value could jump 110.89% from current levels. The projected low price target is $2 while the price target rests at a high of $2.25. In that case, then, we find that the current price level is +122.77% off the targeted high while a plunge would see the stock lose 98.02% from current levels.
Salem Media Group, Inc. (SALM) estimates and forecasts
Figures show that Salem Media Group, Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +9.55% over the past 6 months, with this year growth rate of 613.33%, compared to 9.8% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 98.7% and 162.5% for the next quarter. Revenue growth from the last financial year stood is estimated to be -7.3%.
2 analysts offering their estimates for the company have set an average revenue estimate of $59.66 Million for the current quarter. 2 have an estimated revenue figure of $64.54 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $64.12 Million and $64.63 Million respectively for this quarter and the next, and analysts expect sales will grow by -6.9% for the current quarter and -0.1% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -47.6% over the past 5 years. Earnings growth for 2020 is a modest -761.5% while over the next 5 years, the company’s earnings are expected to increase by 7%.
Salem Media Group, Inc. (NASDAQ:SALM)’s Major holders
Insiders own 47.56% of the company shares, while shares held by institutions stand at 22.45% with a share float percentage of 42.8%. Investors are also buoyed by the number of investors in a company, with Salem Media Group, Inc. having a total of 48 institutions that hold shares in the company. The top two institutional holders are Dimensional Fund Advisors LP with over 741Thousand shares worth more than $837.33 Thousand. As of June 29, 2020, Dimensional Fund Advisors LP held 3.51% of shares outstanding.
The other major institutional holder is Gamco Investors Inc, with the holding of over 436.7 Thousand shares as of June 29, 2020. The firm’s total holdings are worth over $493.47 Thousand and represent 2.07% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are EQ Advisors Trust-1290 VT Gamco Small Company Value Port and Gabelli Small Cap Growth Fund. As of June 29, 2020, the former fund manager holds about 1.75% shares in the company for having 370000 shares of worth $418.1 Thousand while later fund manager owns 225Thousand shares of worth $254.25 Thousand as of June 29, 2020, which makes it owner of about 1.06% of company’s outstanding stock.