Saga Communications, Inc. Class A (SGA)

In the past six months, Saga Communications' stock experienced fluctuations and notable events. In Q3 2025, Saga Communications reported a Q3 2025 EPS of -$0.08, missing the consensus estimate of $0.21, and quarterly revenue was $28.17 million, also below analysts' expectations of $28.30 million. Saga Communications declared a quarterly cash dividend of $0.25 per share, paid on December 12, 2025, and intends to continue paying regular quarterly cash dividends. Saga Communications completed the sale of telecom towers for approximately $10.7 million, with proceeds intended to fund stock buybacks and dividends. Saga Communications' Q2 2025 earnings and revenues lagged estimates, with net revenue decreasing by 6.4% to $27.6 million, and station operating expense decreasing by 6.4% to $21.7 million. As of January 9, 2026, the stock price fell by -0.360% from $11.10 to $11.06, and the stock holds sell signals from both short and long-term Moving Averages, indicating a more negative forecast. Short interest in Saga Communications recently increased by 68.73%, suggesting decreasing investor sentiment. In the past three months, Saga Communications insiders have sold more company stock ($48,306.00) than they have bought ($0.00).

Demand seasonality for Saga Communications' products and services is influenced by advertising cycles. Even-year cycles typically bring significant increases in political ad spending during the second half of the year, providing an outsized lift to revenue. Healthcare, automotive service, and local retail sectors also contribute meaningful seasonal upside in the second half of the year. National advertising tends to come in later in the quarter. Saga's growing digital footprint and expansion into streaming simulcasts, podcasts, and online sponsorships aim to mitigate traditional radio seasonality and increase digital revenue.

Saga Communications, Inc. is a broadcasting company focused on acquiring, developing, and operating broadcast properties, with the goal of running top-billing radio stations in mid-sized markets. The company operates in the Services sector, specifically within the Broadcasting - Radio and Television industry, owning or operating 79 FM and 31 AM radio stations, along with 78 metro signals across approximately 27 markets. In addition to traditional broadcasting, Saga Communications is expanding into digital, e-commerce, local online news, and other non-traditional revenue initiatives. Its radio stations feature a variety of programming formats, including Classic Hits, Country, Classic Country, Hot/Soft/Urban Adult Contemporary, Oldies, Classic Rock, Rock, and News/Talk.

Saga Communications strategically focuses on small and mid-sized markets, avoiding the top-50 metropolitan areas, with a strong presence in the Midwest, Southeast, and New England regions of the United States. The company operates in 28 markets, including Portsmouth, NH; Lafayette, IN; and Columbus, GA. Saga's strategy emphasizes deep local penetration and strong listener loyalty, often achieving a top-3 rank in total market share.

Saga Communications emphasizes localism through live events, community partnerships, and tailored marketing solutions, making it a resilient player in U.S. broadcasting. An industry-wide settlement with two music licensing organizations led to an increase in station operating expenses and contributed to an operating loss in Q3 2025. Saga is actively pursuing a blended digital strategy, aiming to double gross revenue, primarily digital, within 18 to 24 months. The company's history of conservative capital allocation and steady dividends contributes to a reputation of financial stability.

Saga Communications has a mixed ownership structure comprising institutional, retail, and individual investors. Approximately 39.88% to 53.65% of the company's stock is owned by institutional investors, including Towerview Llc, Gate City Capital Management, Llc, and Dimensional Fund Advisors Lp. Insiders own approximately 37.66% of the stock, with Diarmuid McNamee owning the most shares. Public companies and individual investors hold between 5.05% and 8.69% of the stock.