Saga Communications (NASDAQ:SGA) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Saga Communications (NASDAQ:SGA) from a hold rating to a strong sell rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Saga Communications in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, Saga Communications presently has an average rating of “Sell”.

Saga Communications Trading Up 4.2%

Shares of SGA stock opened at $12.45 on Monday. The stock has a market cap of $80.18 million, a P/E ratio of 37.73 and a beta of 0.26. The stock has a 50 day simple moving average of $12.35 and a 200 day simple moving average of $12.51. Saga Communications has a 1 year low of $10.75 and a 1 year high of $14.27. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.03.

Saga Communications (NASDAQ:SGA) last released its earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.29). The business had revenue of $28.17 million during the quarter, compared to the consensus estimate of $28.30 million. Saga Communications had a net margin of 1.91% and a return on equity of 1.27%. On average, research analysts predict that Saga Communications will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Saga Communications

Several institutional investors have recently added to or reduced their stakes in SGA. Nuveen LLC purchased a new stake in Saga Communications during the first quarter worth about $529,000. Mork Capital Management LLC grew its position in shares of Saga Communications by 100.0% during the 1st quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock valued at $624,000 after acquiring an additional 25,000 shares during the period. Empowered Funds LLC grew its position in shares of Saga Communications by 6.2% during the 1st quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock valued at $379,000 after acquiring an additional 1,769 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of Saga Communications by 256.7% during the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock worth $52,000 after purchasing an additional 2,867 shares during the last quarter. Institutional investors own 74.28% of the company’s stock.

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.