TheStreet Upgrades Saga Communications (NASDAQ:SGA) to “B-“

Saga Communications (NASDAQ:SGAGet Rating) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Wednesday, TheStreetRatingsTable reports.

Saga Communications stock opened at $22.78 on Wednesday. The company has a market capitalization of $137.82 million, a PE ratio of 12.31 and a beta of 0.72. The firm has a fifty day simple moving average of $22.77 and a two-hundred day simple moving average of $23.36. Saga Communications has a twelve month low of $20.05 and a twelve month high of $28.58.

Saga Communications (NASDAQ:SGAGet Rating) last posted its quarterly earnings results on Thursday, March 10th. The company reported $0.60 earnings per share for the quarter. The business had revenue of $29.15 million during the quarter. Saga Communications had a net margin of 10.30% and a return on equity of 5.72%.

Several large investors have recently modified their holdings of the company. Minerva Advisors LLC raised its stake in shares of Saga Communications by 4.5% during the third quarter. Minerva Advisors LLC now owns 196,337 shares of the company’s stock valued at $4,415,000 after acquiring an additional 8,428 shares during the last quarter. Geode Capital Management LLC raised its stake in Saga Communications by 8.6% in the third quarter. Geode Capital Management LLC now owns 41,870 shares of the company’s stock worth $952,000 after buying an additional 3,319 shares in the last quarter. Morgan Stanley raised its stake in Saga Communications by 15,848.3% in the second quarter. Morgan Stanley now owns 4,625 shares of the company’s stock worth $101,000 after buying an additional 4,596 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in Saga Communications in the third quarter worth about $64,000. 66.49% of the stock is owned by hedge funds and other institutional investors.

About Saga Communications (Get Rating)

Saga Communications, Inc operates as a broadcasting company, which engages in the acquisition, development, and operation of broadcast properties. The company was founded by Edward K. Christian in 1986 and is headquartered in Grosse Pointe Farms, MI.

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