Noble Financial Issues Pessimistic Estimate for SGA Earnings

Saga Communications, Inc. (NASDAQ:SGAFree Report) – Analysts at Noble Financial cut their FY2024 EPS estimates for Saga Communications in a research report issued on Tuesday, January 14th. Noble Financial analyst M. Kupinski now forecasts that the company will earn $0.23 per share for the year, down from their previous forecast of $0.28. The consensus estimate for Saga Communications’ current full-year earnings is $0.28 per share.

Saga Communications Stock Down 1.9 %

SGA stock opened at $11.63 on Thursday. Saga Communications has a twelve month low of $10.75 and a twelve month high of $24.70. The firm has a market capitalization of $72.80 million, a PE ratio of 16.15 and a beta of 0.26. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $12.08 and a two-hundred day simple moving average of $13.83.

Saga Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.60%. The ex-dividend date was Monday, November 25th. Saga Communications’s dividend payout ratio is presently 138.89%.

Insider Buying and Selling at Saga Communications

In other Saga Communications news, major shareholder Gate City Capital Management, purchased 240,609 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was purchased at an average price of $11.25 per share, for a total transaction of $2,706,851.25. Following the transaction, the insider now owns 863,845 shares in the company, valued at $9,718,256.25. The trade was a 38.61 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 21.90% of the company’s stock.

Institutional Trading of Saga Communications

Several institutional investors and hedge funds have recently made changes to their positions in SGA. Dimensional Fund Advisors LP increased its position in shares of Saga Communications by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock valued at $5,691,000 after purchasing an additional 4,015 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Saga Communications by 5.9% in the second quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock worth $1,933,000 after buying an additional 6,800 shares in the last quarter. Geode Capital Management LLC grew its position in Saga Communications by 5.9% during the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock valued at $771,000 after acquiring an additional 2,986 shares during the last quarter. Empowered Funds LLC raised its stake 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 acquiring an additional 1,340 shares in the last quarter. Finally, Krilogy Financial LLC bought a new stake in shares of Saga Communications in the 4th quarter worth approximately $265,000. Hedge funds and other institutional investors own 74.28% of the company’s stock.

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.

Further Reading

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