Saga Communications, Inc. (NYSEMKT:SGA) Posts Earnings Results
Saga Communications, Inc. (NYSEMKT:SGA) announced its quarterly earnings results on Thursday. The company reported $0.57 earnings per share (EPS) for the quarter, Morningstar.com reports. Saga Communications had a net margin of 6.17% and a return on equity of 5.64%.
Saga Communications (NYSEMKT:SGA) remained flat at $40.30 during trading on Friday. The company had a trading volume of 121 shares. Saga Communications has a one year low of $37.75 and a one year high of $52.05. The firm has a market cap of $238.09 million, a PE ratio of 14.03 and a beta of 1.55. The company has a 50-day moving average of $44.69 and a 200 day moving average of $48.76.
In related news, VP Catherine A. Bobinski sold 597 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $49.15, for a total value of $29,342.55. Following the sale, the vice president now owns 9,960 shares in the company, valued at $489,534. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David B. Stephens sold 3,932 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $48.89, for a total value of $192,235.48. Following the completion of the sale, the director now owns 1,932 shares in the company, valued at approximately $94,455.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,117 shares of company stock worth $448,079.
A number of large investors have recently modified their holdings of SGA. State Street Corp raised its stake in shares of Saga Communications by 3.3% in the fourth quarter. State Street Corp now owns 57,299 shares of the company’s stock worth $2,882,000 after buying an additional 1,810 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Saga Communications by 9.3% in the fourth quarter. Teachers Advisors LLC now owns 6,035 shares of the company’s stock worth $304,000 after buying an additional 511 shares in the last quarter. WCM Investment Management CA raised its stake in shares of Saga Communications by 1.8% in the first quarter. WCM Investment Management CA now owns 43,875 shares of the company’s stock worth $2,240,000 after buying an additional 795 shares in the last quarter. Bowling Portfolio Management LLC purchased a new stake in shares of Saga Communications during the first quarter worth approximately $734,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Saga Communications by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 38,501 shares of the company’s stock worth $1,966,000 after buying an additional 1,860 shares in the last quarter.
A number of analysts have recently issued reports on SGA shares. ValuEngine downgraded shares of Saga Communications from a “buy” rating to a “hold” rating in a report on Friday, July 14th. BidaskClub downgraded shares of Saga Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th.
About Saga Communications
Saga Communications, Inc is a broadcast company engaged in acquiring, developing and operating broadcast properties. The Company’s segments are Radio, Television, and Corporate and Other. As of February 28, 2017, it owned and/or operated four television stations and five low-power television (LPTV) stations serving two markets, and 68 frequency modulation (FM) and 32 amplitude modulation (AM) radio stations serving 24 markets, including Bellingham, Washington; Columbus, Ohio; Norfolk, Virginia; Milwaukee, Wisconsin; Manchester, New Hampshire; Des Moines, Iowa, and Joplin, Missouri.
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