Saga Communications (NASDAQ:SGA) Trading Down 0.6% - What's Next?

Key Points

• Saga Communications shares fell 0.6% on Wednesday, trading between $8.80 and $8.91 on volume well below average. The stock closed at $8.96 the prior session.
• Analyst sentiment remains weak after recent downgrades, including Noble Financial cutting the stock to “market perform” and Weiss Ratings lowering its view to “sell (d)”. Overall, MarketBeat shows a consensus rating of “Reduce.”
• The company recently paid a quarterly dividend of $0.25 per share, equal to an annualized yield of about 11.2%. Institutional ownership is high, with funds and hedge funds holding 74.28% of shares outstanding.

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) shares fell 0.6% on Wednesday . The stock traded as low as $8.80 and last traded at $8.91. Approximately 10,284 shares were traded during trading, a decline of 46% from the average daily volume of 19,058 shares. The stock had previously closed at $8.96.

Wall Street Analyst Weigh In

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

Saga Communications Trading Down 0.6%

The company has a market cap of $56.67 million, a price-to-earnings ratio of -6.60 and a beta of -0.10. 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 business's 50-day simple moving average is $9.51 and its 200-day simple moving average is $10.80.

Saga Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 22nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 11.2%. The ex-dividend date was Friday, May 22nd. Saga Communications's payout ratio is currently -74.07%.

Institutional Investors Weigh In On Saga Communications

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position 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 buying an additional 1,393 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Saga Communications by 6.2% in 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Saga Communications by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 59,371 shares of the company's stock valued at $678,000 after acquiring an additional 1,923 shares during the last quarter. Osaic Holdings Inc. increased its position in Saga Communications by 256.7% during the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company's stock worth $52,000 after purchasing an additional 2,867 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in Saga Communications during the 4th quarter worth about $163,000. Institutional investors and hedge funds own 74.28% of the company's stock.

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.

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