Saga Communications (NASDAQ:SGA - Get Free Report) released its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.08, Zacks reports. The firm had revenue of $24.21 million during the quarter, compared to analyst estimates of $23.00 million. Saga Communications had a net margin of 4.24% and a return on equity of 3.22%.
Saga Communications Trading Up 2.7%
SGA stock traded up $0.32 during trading on Thursday, hitting $12.12. The company had a trading volume of 1,509 shares, compared to its average volume of 16,630. The firm has a market capitalization of $78.08 million, a P/E ratio of 16.83 and a beta of 0.22. Saga Communications has a 52-week low of $10.75 and a 52-week high of $20.53. The company has a 50 day simple moving average of $11.81 and a 200-day simple moving average of $12.10. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.
Insider Buying and Selling
In other news, major shareholder Edward K. Christian Trust sold 5,000 shares of Saga Communications stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $12.56, for a total value of $62,800.00. Following the transaction, the insider now owns 938,250 shares of the company's stock, valued at $11,784,420. The trade was a 0.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 5,033 shares of company stock valued at $63,218 in the last 90 days. Company insiders own 22.40% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on shares of Saga Communications in a research note on Friday, May 9th. They issued a "hold" rating on the stock.
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About Saga Communications
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Saga Communications, Inc, a media company, engages in acquiring, developing, and operating broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, country, classic country, hot/soft/urban adult contemporary, oldies, classic rock, rock, and news/talk.
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