Saga Communications (NASDAQ:SGA – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
Saga Communications Trading Up 1.1 %
Shares of SGA opened at $24.00 on Friday. Saga Communications has a 1-year low of $18.89 and a 1-year high of $27.00. The company has a market cap of $146.88 million, a price-to-earnings ratio of 12.97 and a beta of 0.41. The company’s fifty day simple moving average is $22.20 and its 200 day simple moving average is $21.31.
Saga Communications (NASDAQ:SGA – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). Saga Communications had a net margin of 9.91% and a return on equity of 6.27%. The company had revenue of $29.15 million during the quarter, compared to analyst estimates of $28.85 million. As a group, research analysts forecast that Saga Communications will post 1.47 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in SGA. Martin & Co. Inc. TN increased its position in Saga Communications by 51.4% during the 2nd quarter. Martin & Co. Inc. TN now owns 59,449 shares of the company’s stock valued at $1,270,000 after purchasing an additional 20,175 shares during the period. Royce & Associates LP boosted its holdings in shares of Saga Communications by 8.5% during the 2nd quarter. Royce & Associates LP now owns 195,547 shares of the company’s stock worth $4,177,000 after buying an additional 15,300 shares in the last quarter. EA Series Trust bought a new position in shares of Saga Communications during the 2nd quarter worth approximately $317,000. Geode Capital Management LLC lifted its holdings in shares of Saga Communications by 24.0% in the 2nd quarter. Geode Capital Management LLC now owns 65,455 shares of the company’s stock worth $1,398,000 after purchasing an additional 12,668 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Saga Communications by 11.4% in the 2nd quarter. Renaissance Technologies LLC now owns 120,544 shares of the company’s stock worth $2,575,000 after purchasing an additional 12,300 shares in the last quarter. Institutional investors own 58.18% of the company’s stock.
About Saga Communications
Saga Communications, Inc, a broadcast company, acquires, develops, and operates broadcast properties in the United States. The company’s radio stations employ various programming formats, including classic hits, adult hits, top 40, country, country legends, mainstream/hot/soft adult contemporary, pure oldies, classic rock, and news/talk.