Saga Communications (NASDAQ:SGA – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.
Saga Communications Trading Up 0.9 %
SGA stock opened at $22.26 on Friday. The stock has a market cap of $136.23 million, a price-to-earnings ratio of 12.03 and a beta of 0.40. The business’s 50-day moving average is $21.19 and its 200 day moving average is $21.11. Saga Communications has a 12-month low of $18.89 and a 12-month high of $27.27.
Saga Communications (NASDAQ:SGA – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). Saga Communications had a return on equity of 6.27% and a net margin of 9.91%. The company had revenue of $29.15 million for the quarter, compared to analysts’ expectations of $28.85 million. As a group, equities analysts forecast that Saga Communications will post 1.47 EPS for the current fiscal year.
Institutional Investors Weigh In On Saga Communications
A number of institutional investors and hedge funds have recently made changes to their positions in SGA. Vanguard Group Inc. raised its holdings in Saga Communications by 3.7% during the third quarter. Vanguard Group Inc. now owns 211,186 shares of the company’s stock worth $4,532,000 after purchasing an additional 7,629 shares in the last quarter. Royce & Associates LP raised its holdings in Saga Communications by 8.5% during the second quarter. Royce & Associates LP now owns 195,547 shares of the company’s stock worth $4,177,000 after purchasing an additional 15,300 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Saga Communications by 11.4% during the second 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. BlackRock Inc. raised its holdings in Saga Communications by 6.2% during the second quarter. BlackRock Inc. now owns 101,673 shares of the company’s stock worth $2,172,000 after purchasing an additional 5,980 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Saga Communications by 24.0% during the second 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. 58.18% of the stock is owned by hedge funds and other institutional investors.
Saga Communications Company Profile
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.