With the company’s stock price stuck at its lowest levels since July 2009, executives at Salem Media Group hope to drum up support from institutional investors by presenting at a pair of upcoming investor conferences in California.
The Ventura County, Calif.-based media company focused on conservative Talk and Christian-themed programming will be present on Dec. 11 at the 12th annual LD Micro Main Event in Los Angeles.
Then, company executives will board a plane and head to San Francisco, for a Dec. 12 presentation at the Singular Best of the Uncovered 14th Annual Conference.
Salem will have one-on-one meetings held throughout the day at each conference, and those wishing to meet with the company are invited to contact representatives for each of the events to schedule a session.
Those wishing to see the presentation Salem will make at each of the events can go on Dec. 11 to the investor relations portion of the company’s website.
LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space. In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector.
Singular Research “aims to be the most trusted supplier of independent, trusted, single-sources research on small-to-micro cap companies to the small-to-medium sized Hedge Fund manager.” It provides quarterly updates for 40 to 70 companies and makes recommendations.
The presentations come with SALM trading at $1.47. That’s the second-lowest closing price of 2019 — and the second-lowest price for the last decade. A $1.46 close was seen in October.
The year-to-date high for SALM is $3.06, and still has a $3.63 one-year target estimate from Wall Street analysts.