Saga Communications (NASDAQ:SGA) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Saga Communications (NASDAQ:SGA) from a hold rating to a buy rating in a research note issued to investors on Friday.

Separately, TheStreet raised shares of Saga Communications from a c rating to a b- rating in a research report on Tuesday, August 8th.

Saga Communications Stock Down 0.1 %

NASDAQ:SGA opened at $21.35 on Friday. Saga Communications has a 52 week low of $18.89 and a 52 week high of $29.18. The firm has a 50 day moving average of $20.46 and a 200 day moving average of $20.72. The stock has a market capitalization of $130.73 million, a price-to-earnings ratio of 11.54 and a beta of 0.40.

Saga Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 27th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 24th. This represents a $1.00 dividend on an annualized basis and a yield of 4.68%. Saga Communications’s payout ratio is 54.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Barclays PLC acquired a new stake in shares of Saga Communications in the third quarter worth $47,000. Citigroup Inc. purchased a new position in Saga Communications during the third quarter valued at $50,000. Morgan Stanley lifted its holdings in Saga Communications by 46.0% during the fourth quarter. Morgan Stanley now owns 4,843 shares of the company’s stock valued at $114,000 after purchasing an additional 1,527 shares in the last quarter. Bank of Montreal Can purchased a new position in Saga Communications during the second quarter valued at $219,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Saga Communications in the fourth quarter worth about $241,000. Institutional investors and hedge funds own 58.18% of the company’s stock.

Saga Communications Company Profile

Saga Communications, Inc, a broadcast company, acquires, develops, and operates broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, adult hits, top 40, country, country legends, mainstream/hot/soft adult contemporary, pure oldies, classic rock, and news/talk.