It’s not the best time to be a long-time holder of Salem Media Group stock. The conservative and Christian-theme media company finished Tuesday’s trading at an all-time low.
On higher than average volume of 123,688 shares, Salem tumbled 6.6%, ending the day at $3.55.
In immediate after-hours trading, shares recovered by 2.8%.
Still, the dip is concerning, as Salem has been on a steady decline since hitting $6.60 on Sept. 1, 2017, and was $7.65 on April 1, 2017.
Further, long-term analysis of Salem stock shows the company nearing the $10 level on March 1, 2014.
With a 1-year target estimate of $9, Salem is well under its expected trading level.
The dip for Salem comes following the release of the company’s Q4 earnings on March 15.
For Q4, total revenue decreased 4.9%, to $67.2 million from $70.7 million.