Saga Communications (NASDAQ:SGA) Now Covered by Noble Financial

Noble Financial initiated coverage on shares of Saga Communications (NASDAQ:SGA) in a research note published on Friday morning,Zacks reports. The firm issued a hold rating on the stock.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Saga Communications in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Saga Communications Price Performance

Shares of Saga Communications stock traded up $0.24 during trading on Friday, hitting $7.02. 20,733 shares of the company’s stock traded hands, compared to its average volume of 17,291. The company has a market cap of $44.65 million, a PE ratio of -2.91 and a beta of -0.12. The firm’s fifty day moving average price is $8.31 and its 200 day moving average price is $9.79. Saga Communications has a twelve month low of $6.62 and a twelve month high of $12.76.

Saga Communications (NASDAQ:SGA) last announced its quarterly earnings results on Thursday, November 12th. The company reported ($0.03) EPS for the quarter. The business had revenue of $26.66 million for the quarter. Saga Communications had a negative return on equity of 0.44% and a negative net margin of 15.08%.

Saga Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Monday, November 23rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $1.00 annualized dividend and a dividend yield of 14.2%. Saga Communications’s dividend payout ratio (DPR) is presently -72.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SGA. Marquette Asset Management LLC bought a new stake in Saga Communications during the 2nd quarter worth approximately $257,000. Empowered Funds LLC boosted its stake in Saga Communications by 37.4% in the third quarter. Empowered Funds LLC now owns 49,423 shares of the company’s stock worth $407,000 after purchasing an additional 13,451 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Saga Communications by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 350,655 shares of the company’s stock worth $4,103,000 after purchasing an additional 1,393 shares in the last quarter. Institutional investors own 74.28% of the company’s stock.

Saga Communications Company Profile

Saga Communications, Inc. is a U.S. broadcasting company that owns and operates AM and FM radio stations. Its stations serve local audiences with programming that includes music, news, talk and sports, while the company sells advertising to businesses seeking to reach listeners in its markets. Founded in 1986 by Edward K. Christian, Saga focuses primarily on radio markets across the United States. In addition to broadcasting, the company offers digital marketing services that complement its advertising business.