Saga Communications, Inc. (NYSEMKT:SGA) Announces Quarterly Earnings Results
Saga Communications, Inc. (NYSEMKT:SGA) posted its quarterly earnings results on Thursday. The company reported $0.57 earnings per share for the quarter, Morningstar.com reports. Saga Communications had a net margin of 6.17% and a return on equity of 5.64%.
Shares of Saga Communications (SGA) remained flat at $40.30 on Friday. 121 shares of the stock traded hands. The stock has a 50 day moving average price of $44.69 and a 200-day moving average price of $48.76. The firm has a market capitalization of $238.09 million, a P/E ratio of 14.03 and a beta of 1.55. Saga Communications has a one year low of $37.75 and a one year high of $52.05.
In other Saga Communications news, Director David B. Stephens sold 3,932 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $48.89, for a total transaction of $192,235.48. Following the completion of the sale, the director now directly owns 1,932 shares in the company, valued at approximately $94,455.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Catherine A. Bobinski sold 597 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $49.15, for a total transaction of $29,342.55. Following the sale, the vice president now owns 9,960 shares of the company’s stock, valued at $489,534. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,117 shares of company stock valued at $448,079.
Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Saga Communications by 5.0% in the first quarter. FMR LLC now owns 462,115 shares of the company’s stock worth $23,591,000 after buying an additional 22,079 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Saga Communications by 0.9% in the first quarter. Vanguard Group Inc. now owns 144,726 shares of the company’s stock worth $7,389,000 after buying an additional 1,332 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Saga Communications by 1.9% in the first quarter. Renaissance Technologies LLC now owns 138,200 shares of the company’s stock worth $7,055,000 after buying an additional 2,600 shares during the last quarter. Uniplan Investment Counsel Inc. increased its stake in shares of Saga Communications by 2.1% in the first quarter. Uniplan Investment Counsel Inc. now owns 133,745 shares of the company’s stock worth $6,827,000 after buying an additional 2,798 shares during the last quarter. Finally, State Street Corp increased 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 during the last quarter.
A number of research analysts have recently issued reports on SGA shares. ValuEngine upgraded shares of Saga Communications from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub cut shares of Saga Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, July 8th.
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Saga Communications Company Profile
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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