Weiss Ratings Reiterates "Sell (D+)" Rating for Saga Communications (NASDAQ:SGA)

Key Points

• Weiss Ratings has reaffirmed a **"Sell (D+)" rating** for Saga Communications (NASDAQ:SGA), indicating ongoing concerns about the company's stock performance.
• Saga Communications reported a **Q2 EPS of $0.18**, missing analysts' expectations by $0.01, alongside a revenue of $28.23 million, which also fell short of forecasts.
• Major shareholder **Edward K. Christian Trust** sold 3,300 shares of Saga Communications, indicating potential insider selling activity as part of a wider trend where insiders sold over **19,630 shares** in the last 90 days.

Saga Communications (NASDAQ:SGA - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Saga Communications Trading Down 2.2%

Shares of SGA opened at $12.65 on Wednesday. The company has a market capitalization of $81.47 million, a P/E ratio of 38.33 and a beta of 0.31. Saga Communications has a one year low of $10.75 and a one year high of $15.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.76 and a current ratio of 2.76. The stock has a 50-day moving average price of $12.55 and a 200 day moving average price of $12.40.

Saga Communications (NASDAQ:SGA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). The business had revenue of $28.23 million during the quarter, compared to analysts' expectations of $28.55 million. Saga Communications had a net margin of 1.91% and a return on equity of 1.27%. Sell-side analysts forecast that Saga Communications will post 0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Saga Communications news, major shareholder Edward K. Christian Trust sold 3,300 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $13.63, for a total transaction of $44,979.00. Following the transaction, the insider owned 905,403 shares of the company's stock, valued at $12,340,642.89. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 19,630 shares of company stock worth $261,958. Company insiders own 22.40% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its holdings 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 buying an additional 2,867 shares during the last quarter. Empowered Funds LLC lifted its holdings in Saga Communications by 6.2% during the 1st quarter. Empowered Funds LLC now owns 30,406 shares of the company's stock worth $379,000 after buying an additional 1,769 shares during the last quarter. Nuveen LLC bought a new position in Saga Communications during the 1st quarter worth approximately $529,000. Mork Capital Management LLC lifted its holdings in Saga Communications by 100.0% during the 1st quarter. Mork Capital Management LLC now owns 50,000 shares of the company's stock worth $624,000 after buying an additional 25,000 shares during the last quarter. Finally, Peapod Lane Capital LLC lifted its holdings in Saga Communications by 34.2% during the 1st quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company's stock worth $2,540,000 after buying an additional 51,884 shares during the last quarter. Institutional investors own 74.28% of the company's stock.

About Saga Communications

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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