Saga Communications (NASDAQ:SGA) Now Covered by Analysts at Noble Financial

Investment analysts at Noble Financial began 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 note on Monday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Saga Communications Stock Performance

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

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

Hedge Funds Weigh In On Saga Communications

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marquette Asset Management LLC purchased a new position in shares of Saga Communications in the second quarter worth $257,000. Empowered Funds LLC lifted its stake in shares of Saga Communications by 37.4% during the third quarter. Empowered Funds LLC now owns 49,423 shares of the company’s stock worth $407,000 after buying an additional 13,451 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Saga Communications by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 350,655 shares of the company’s stock worth $4,103,000 after buying an additional 1,393 shares during the period. 74.28% of the stock is owned by hedge funds and other institutional investors.

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.