Saga Communications (NASDAQ:SGA) Shares Down 0.6% – Should You Sell?

Saga Communications, Inc. (NASDAQ:SGA)’s share price dropped 0.6% during mid-day trading on Wednesday . The stock traded as low as $8.80 and last traded at $8.91. Approximately 10,284 shares changed hands during trading, a decline of 46% from the average session volume of 19,058 shares. The stock had previously closed at $8.96.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SGA shares. Noble Financial lowered shares of Saga Communications from a “strong-buy” rating to a “market perform” rating in a research report on Monday, May 11th. Weiss Ratings lowered shares of Saga Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Saga Communications Price Performance

The company’s 50-day moving average is $9.51 and its 200-day moving average is $10.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.81 and a quick ratio of 2.81. The firm has a market capitalization of $56.67 million, a price-to-earnings ratio of -6.60 and a beta of -0.10.

Saga Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date was Friday, May 22nd. Saga Communications’s dividend payout ratio (DPR) is -74.07%.

Institutional Trading of Saga Communications

A number of institutional investors and hedge funds have recently made changes to their positions in SGA. Osaic Holdings Inc. raised its position in shares of Saga Communications by 256.7% in the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock worth $52,000 after buying an additional 2,867 shares during the period. LPL Financial LLC purchased a new stake in Saga Communications during the fourth quarter valued at about $163,000. Bank of America Corp DE grew its position in Saga Communications by 30,720.0% during the third quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock valued at $211,000 after acquiring an additional 16,896 shares during the period. Empowered Funds LLC grew its position in Saga Communications by 6.2% during the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock valued at $379,000 after acquiring an additional 1,769 shares during the period. Finally, Geode Capital Management LLC increased its stake in Saga Communications by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 59,371 shares of the company’s stock worth $678,000 after acquiring an additional 1,923 shares during the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

About Saga Communications

Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.

Founded in 1985 by Edward J.