Saga Communications (NASDAQ:SGA) Announces Earnings Results

Saga Communications (NASDAQ:SGA) issued its earnings results on Thursday. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $1.23, FiscalAI reports. Saga Communications had a return on equity of 0.18% and a net margin of 0.27%.The firm had revenue of $26.51 million for the quarter, compared to analyst estimates of $27.70 million.

Saga Communications Trading Up 3.5%

NASDAQ:SGA opened at $11.39 on Thursday. Saga Communications has a 1 year low of $10.58 and a 1 year high of $14.27. The stock’s fifty day moving average price is $11.42 and its two-hundred day moving average price is $11.86. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market cap of $73.34 million, a P/E ratio of 227.76 and a beta of -0.02.

Saga Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, February 26th. This represents a $1.00 annualized dividend and a dividend yield of 8.8%. Saga Communications’s dividend payout ratio is currently 2,000.00%.

Insider Buying and Selling at Saga Communications

In related news, major shareholder Edward K. Christian Trust sold 5,665 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.07, for a total transaction of $68,376.55. Following the sale, the insider directly owned 881,044 shares in the company, valued at approximately $10,634,201.08. The trade was a 0.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.40% of the company’s stock.

Institutional Trading of Saga Communications

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Saga Communications by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 59,371 shares of the company’s stock valued at $678,000 after buying an additional 1,923 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Saga Communications by 5.8% in the fourth quarter. Empowered Funds LLC now owns 33,851 shares of the company’s stock worth $386,000 after buying an additional 1,850 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Saga Communications by 30,720.0% in the third quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock worth $211,000 after buying an additional 16,896 shares in the last quarter. LPL Financial LLC bought a new position in shares of Saga Communications in the fourth quarter valued at approximately $163,000. Finally, Osaic Holdings Inc. grew its stake in Saga Communications by 256.7% during the second quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock valued at $52,000 after acquiring an additional 2,867 shares in the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Saga Communications in a report on Thursday, January 22nd. Zacks Research raised shares of Saga Communications from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce”.

About Saga Communications

Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.

Founded in 1985 by Edward J.