Saga Communications (NASDAQ:SGA) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Saga Communications (NASDAQ:SGA) from a hold rating to a buy rating in a research note released on Friday morning.

Separately, TheStreet raised Saga Communications from a c rating to a b- rating in a research report on Tuesday, August 8th.

Saga Communications Stock Down 0.1 %

Shares of NASDAQ SGA opened at $21.35 on Friday. The business’s 50 day moving average price is $20.46 and its two-hundred day moving average price is $20.72. The company has a market cap of $130.73 million, a PE ratio of 11.54 and a beta of 0.40. Saga Communications has a twelve month low of $18.89 and a twelve month high of $29.18.

Saga Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, November 27th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, November 24th. Saga Communications’s payout ratio is 54.05%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. EA Series Trust acquired a new stake in Saga Communications in the second quarter valued at $317,000. Martin & Co. Inc. TN bought a new position in shares of Saga Communications during the 1st quarter worth approximately $873,000. Royce & Associates LP lifted its position in shares of Saga Communications by 15.4% during the 1st quarter. Royce & Associates LP now owns 180,247 shares of the company’s stock worth $4,007,000 after buying an additional 24,078 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Saga Communications in the 1st quarter worth approximately $259,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Saga Communications in the 4th quarter worth approximately $241,000. 58.18% of the stock is currently owned by institutional investors.

Saga Communications Company Profile

Saga Communications, Inc, a broadcast company, acquires, develops, and operates broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, adult hits, top 40, country, country legends, mainstream/hot/soft adult contemporary, pure oldies, classic rock, and news/talk.