Noble Financial Begins Coverage on Saga Communications (NASDAQ:SGA)

Equities research analysts at Noble Financial began coverage on shares of Saga Communications (NASDAQ:SGA) in a report issued on Friday, Zacks reports. The firm set a “hold” rating on the stock.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Saga Communications in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Saga Communications Stock Performance

NASDAQ:SGA traded up $0.24 during trading hours on Friday, hitting $7.02. The company’s stock had a trading volume of 20,733 shares, compared to its average volume of 17,291. The business’s 50-day moving average is $8.31 and its two-hundred day moving average is $9.79. The company has a market capitalization of $44.65 million, a PE ratio of -2.91 and a beta of -0.12. Saga Communications has a 52-week low of $6.62 and a 52-week high of $12.76.

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

Institutional Investors Weigh In On Saga Communications

Institutional investors have recently modified their holdings of the company. Marquette Asset Management LLC acquired a new stake in shares of Saga Communications in the 2nd quarter worth approximately $257,000. Empowered Funds LLC increased its stake in Saga Communications by 37.4% in the 3rd quarter. Empowered Funds LLC now owns 49,423 shares of the company’s stock valued at $407,000 after purchasing an additional 13,451 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in 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 purchasing an additional 1,393 shares during the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

About Saga Communications

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.