StockNews.com Begins Coverage on Saga Communications (NASDAQ:SGA)

Analysts at StockNews.com assumed coverage on shares of Saga Communications (NASDAQ:SGA) in a report released on Tuesday. The firm set a “hold” rating on the stock.

Saga Communications Trading Up 0.8%

Shares of SGA opened at $12.15 on Tuesday. The firm has a market capitalization of $78.27 million, a P/E ratio of 16.88 and a beta of 0.22. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average is $11.86 and its two-hundred day moving average is $12.03. Saga Communications has a twelve month low of $10.75 and a twelve month high of $19.88.

Saga Communications (NASDAQ:SGA) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.08. The business had revenue of $24.21 million during the quarter, compared to the consensus estimate of $23.00 million. Saga Communications had a net margin of 4.24% and a return on equity of 3.22%. On average, research analysts predict that Saga Communications will post 0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Saga Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gate City Capital Management LLC grew its holdings in shares of Saga Communications by 94.5% during the 4th quarter. Gate City Capital Management LLC now owns 863,845 shares of the company’s stock worth $9,528,000 after purchasing an additional 419,714 shares during the period. Peapod Lane Capital LLC acquired a new position in Saga Communications during the fourth quarter valued at approximately $1,675,000. Nuveen LLC purchased a new stake in Saga Communications during the first quarter worth approximately $529,000. Mork Capital Management LLC increased its position in shares of Saga Communications by 100.0% in the first quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock worth $624,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Saga Communications in the fourth quarter worth $115,000. 74.28% of the stock is currently owned by institutional investors and hedge funds.

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.