Saga Communications (NASDAQ:SGA) Stock Price Down 0.6% – Here’s What Happened

Shares of Saga Communications, Inc. (NASDAQ:SGA) dropped 0.6% on Thursday . The stock traded as low as $11.32 and last traded at $11.35. Approximately 18,897 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 20,993 shares. The stock had previously closed at $11.42.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Saga Communications from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of Saga Communications in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Saga Communications Price Performance

The company has a 50-day moving average of $12.06 and a two-hundred day moving average of $12.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $73.09 million and a PE ratio of 227.00.

Saga Communications (NASDAQ:SGA) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.29). The business had revenue of $28.17 million during the quarter, compared to analysts’ expectations of $28.30 million. Saga Communications had a net margin of 0.27% and a return on equity of 0.18%. Sell-side analysts predict that Saga Communications, Inc. will post 0.23 EPS for the current fiscal year.

Saga Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, November 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.00 dividend on an annualized basis and a yield of 8.8%. Saga Communications’s dividend payout ratio (DPR) is currently 2,000.00%.

Institutional Trading of Saga Communications

A number of institutional investors and hedge funds have recently made changes to their positions in SGA. Osaic Holdings Inc. raised its position in shares of Saga Communications by 256.7% in the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock worth $52,000 after buying an additional 2,867 shares during the period. Bank of America Corp DE increased its stake in Saga Communications by 30,720.0% during the third quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock worth $211,000 after acquiring an additional 16,896 shares during the last quarter. Empowered Funds LLC increased its stake in Saga Communications by 6.2% during the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock worth $379,000 after acquiring an additional 1,769 shares during the last quarter. Nuveen LLC purchased a new position in shares of Saga Communications in the 1st quarter worth about $529,000. Finally, Mork Capital Management LLC increased its position in Saga Communications by 100.0% during the 1st quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock worth $624,000 after purchasing an additional 25,000 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

Saga Communications Company Profile

Saga Communications, Inc, a media company, engages in acquiring, developing, and operating broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, country, classic country, hot/soft/urban adult contemporary, oldies, classic rock, rock, and news/talk.