Weiss Ratings Reiterates “Sell (D+)” Rating for Saga Communications (NASDAQ:SGA)

Saga Communications (NASDAQ:SGA)‘s stock had its “sell (d+)” rating reissued by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Saga Communications Stock Down 2.2%

Shares of Saga Communications stock opened at $12.65 on Wednesday. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $12.55 and its 200-day simple moving average is $12.40. The stock has a market capitalization of $81.47 million, a price-to-earnings ratio of 38.33 and a beta of 0.31. Saga Communications has a twelve month low of $10.75 and a twelve month high of $15.10.

Saga Communications (NASDAQ:SGA) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $28.23 million for the quarter, compared to analyst estimates of $28.55 million. Saga Communications had a return on equity of 1.27% and a net margin of 1.91%. Equities research analysts forecast that Saga Communications will post 0.23 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Edward K. Christian Trust sold 3,017 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $13.50, for a total value of $40,729.50. Following the sale, the insider directly owned 902,386 shares in the company, valued at $12,182,211. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 19,630 shares of company stock valued at $261,958. 22.40% of the stock is owned by company insiders.

Institutional Trading of Saga Communications

Several large investors have recently added to or reduced their stakes in SGA. Peapod Lane Capital LLC increased its position in shares of Saga Communications by 34.2% during the 1st quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company’s stock valued at $2,540,000 after purchasing an additional 51,884 shares during the period. Nuveen LLC acquired a new position in shares of Saga Communications during the 1st quarter valued at $529,000. Mork Capital Management LLC increased 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 purchasing an additional 25,000 shares during the period. Empowered Funds LLC increased 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 purchasing an additional 1,769 shares during the period. Finally, Osaic Holdings Inc. increased its position 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 valued at $52,000 after purchasing an additional 2,867 shares during the period. 74.28% of the stock is currently owned by institutional investors and hedge funds.

About Saga Communications

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.