Saga Communications, Inc. (NYSEMKT:SGA) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

Separately, ValuEngine raised shares of Saga Communications from a “hold” rating to a “buy” rating in a report on Thursday.

Shares of Saga Communications (SGA) traded up 3.14% during midday trading on Friday, reaching $46.00. 890 shares of the company’s stock were exchanged. The stock has a market capitalization of $271.77 million, a P/E ratio of 16.01 and a beta of 1.55. Saga Communications has a 12-month low of $37.02 and a 12-month high of $52.05. The firm has a 50-day moving average of $48.79 and a 200-day moving average of $49.99.

Saga Communications (NYSEMKT:SGA) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.32 earnings per share for the quarter. Saga Communications had a net margin of 6.17% and a return on equity of 5.64%. The firm had revenue of $31.41 million during the quarter. Analysts anticipate that Saga Communications will post $2.21 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Monday, May 22nd were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, May 18th. This represents a $1.20 annualized dividend and a dividend yield of 2.61%. Saga Communications’s payout ratio is 40.00%.

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In related news, VP Catherine A. Bobinski sold 597 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $49.15, for a total transaction of $29,342.55. Following the completion of the sale, the vice president now directly owns 9,960 shares in the company, valued at $489,534. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Towerview Llc sold 1,053 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $51.31, for a total transaction of $54,029.43. Following the sale, the insider now owns 1,162,381 shares of the company’s stock, valued at $59,641,769.11. The disclosure for this sale can be found here. Insiders have sold 44,121 shares of company stock valued at $2,253,124 over the last three months.

A number of hedge funds have recently made changes to their positions in 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 valued at $2,882,000 after buying an additional 1,810 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Saga Communications during the fourth quarter valued at about $262,000. Renaissance Technologies LLC raised its stake in shares of Saga Communications by 6.5% in the fourth quarter. Renaissance Technologies LLC now owns 135,600 shares of the company’s stock valued at $6,821,000 after buying an additional 8,300 shares during the period. 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 valued at $304,000 after buying an additional 511 shares during the period. Finally, 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 valued at $2,240,000 after buying an additional 795 shares during the period.

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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