Saga Communications (NASDAQ:SGA) Rating Lowered to “Strong Sell” at Zacks Research

Saga Communications (NASDAQ:SGA) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

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

Saga Communications Price Performance

SGA traded up $0.08 on Monday, reaching $12.03. The stock had a trading volume of 3,839 shares, compared to its average volume of 9,931. The firm has a 50-day moving average of $12.35 and a 200-day moving average of $12.51. Saga Communications has a fifty-two week low of $10.75 and a fifty-two week high of $14.27. The company has a market capitalization of $77.44 million, a price-to-earnings ratio of 36.44 and a beta of 0.26. 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 announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.29). The business had revenue of $28.17 million during the quarter, compared to analyst estimates of $28.30 million. Saga Communications had a net margin of 1.91% and a return on equity of 1.27%. As a group, sell-side analysts anticipate that Saga Communications will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Saga Communications

Several hedge funds and other institutional investors have recently made changes to their positions in SGA. Empowered Funds LLC grew its holdings in Saga Communications by 6.2% during the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock worth $379,000 after buying an additional 1,769 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of 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 purchasing an additional 2,867 shares in the last quarter. Mork Capital Management LLC boosted its holdings in Saga Communications by 100.0% during the first quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock worth $624,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Saga Communications in the 1st quarter worth about $529,000. 74.28% of the stock is owned by institutional investors.

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.