Saga Communications (NASDAQ:SGA) Stock Picked Up by Analysts at Noble Financial

Noble Financial initiated coverage on shares of Saga Communications (NASDAQ:SGA) in a note issued to investors on Friday, Zacks reports. The brokerage set a “hold” rating on the stock.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Saga Communications in a research report on Monday, August 17th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Saga Communications has an average rating of “Reduce”.

Saga Communications Trading Up 3.5%

Shares of NASDAQ SGA traded up $0.24 during midday trading on Friday, hitting $7.02. The company’s stock had a trading volume of 20,733 shares, compared to its average volume of 17,291. The business’s 50 day moving average is $8.31 and its two-hundred day moving average is $9.79. Saga Communications has a 12-month low of $6.62 and a 12-month high of $12.76. The firm has a market cap of $44.65 million, a P/E ratio of -2.91 and a beta of -0.12.

Saga Communications (NASDAQ:SGA) last issued its quarterly earnings results on Thursday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. Saga Communications had a negative return on equity of 0.44% and a negative net margin of 15.08%. The business had revenue of $26.66 million for the quarter.

Institutional Trading of Saga Communications

A number of large investors have recently modified their holdings of SGA. Dimensional Fund Advisors LP increased its holdings in Saga Communications by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 350,655 shares of the company’s stock worth $4,103,000 after purchasing an additional 1,393 shares during the period. Empowered Funds LLC raised its position in Saga Communications by 37.4% during the 3rd quarter. Empowered Funds LLC now owns 49,423 shares of the company’s stock valued at $407,000 after purchasing an additional 13,451 shares in the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in shares of Saga Communications in the 2nd quarter worth $257,000. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Saga Communications Company Profile

Saga Communications, Inc. is a U.S. broadcasting company that owns and operates AM and FM radio stations. Its stations serve local audiences with programming that includes music, news, talk and sports, while the company sells advertising to businesses seeking to reach listeners in its markets. Founded in 1986 by Edward K. Christian, Saga focuses primarily on radio markets across the United States. In addition to broadcasting, the company offers digital marketing services that complement its advertising business.