Noble Financial Analysts Decrease Earnings Estimates for SGA

Saga Communications, Inc. (NASDAQ:SGA - Free Report) - Equities research analysts at Noble Financial dropped their FY2024 EPS estimates for shares of Saga Communications in a report issued on Tuesday, January 14th. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings per share of $0.23 for the year, down from their prior forecast of $0.28. The consensus estimate for Saga Communications' current full-year earnings is $0.28 per share.

Saga Communications Stock Performance

Saga Communications stock traded down $0.23 during midday trading on Thursday, reaching $11.63. 13,169 shares of the company's stock were exchanged, compared to its average volume of 24,687. The stock's 50-day simple moving average is $12.08 and its 200 day simple moving average is $13.83. The firm has a market cap of $72.80 million, a price-to-earnings ratio of 16.15 and a beta of 0.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. Saga Communications has a 52 week low of $10.75 and a 52 week high of $24.70.

Saga Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 8.60%. Saga Communications's dividend payout ratio is currently 138.89%.

Insider Buying and Selling

In related news, major shareholder Gate City Capital Management, purchased 240,609 shares of the stock in a transaction on Tuesday, December 31st. The shares were purchased at an average cost of $11.25 per share, with a total value of $2,706,851.25. Following the acquisition, the insider now directly owns 863,845 shares in the company, valued at $9,718,256.25. The trade was a 38.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 21.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Saga Communications

Institutional investors have recently made changes to their positions in the company. Krilogy Financial LLC acquired a new stake in Saga Communications during the 4th quarter worth approximately $265,000. Geode Capital Management LLC increased its position in Saga Communications by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 53,679 shares of the company's stock worth $771,000 after buying an additional 2,986 shares during the period. Empowered Funds LLC lifted its holdings in shares of Saga Communications by 5.1% during the third quarter. Empowered Funds LLC now owns 27,390 shares of the company's stock worth $393,000 after buying an additional 1,340 shares in the last quarter. Marquette Asset Management LLC boosted its position in shares of Saga Communications by 4.2% in the third quarter. Marquette Asset Management LLC now owns 22,111 shares of the company's stock valued at $318,000 after acquiring an additional 894 shares during the period. Finally, Aristides Capital LLC grew its stake in shares of Saga Communications by 12.7% in the second quarter. Aristides Capital LLC now owns 10,850 shares of the company's stock valued at $171,000 after acquiring an additional 1,220 shares in the last quarter. Institutional investors own 74.28% of the company's stock.

Saga Communications Company Profile

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.