Saga Communications (NASDAQ:SGA) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Saga Communications (NASDAQ:SGA) from a hold rating to a strong sell rating in a research report report published on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Saga Communications in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Saga Communications Price Performance

Shares of SGA opened at $12.01 on Monday. The firm has a market capitalization of $77.34 million, a price-to-earnings ratio of 36.39 and a beta of 0.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.76 and a current ratio of 2.76. The stock’s fifty day moving average is $12.36 and its 200-day moving average is $12.50. Saga Communications has a one year low of $10.75 and a one year high of $14.27.

Saga Communications (NASDAQ:SGA) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.29). Saga Communications had a return on equity of 1.27% and a net margin of 1.91%.The company had revenue of $28.17 million for the quarter, compared to the consensus estimate of $28.30 million. Equities analysts anticipate that Saga Communications will post 0.23 EPS for the current year.

Hedge Funds Weigh In On Saga Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen LLC purchased a new stake in shares of Saga Communications in the 1st quarter valued at approximately $529,000. Mork Capital Management LLC raised its stake in Saga Communications by 100.0% during the 1st quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock valued at $624,000 after purchasing an additional 25,000 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Saga Communications by 256.7% in the second quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock valued at $52,000 after purchasing an additional 2,867 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Saga Communications by 6.2% in the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock valued at $379,000 after purchasing an additional 1,769 shares in the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.

About Saga Communications

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.