Saga Communications, Inc. Class A (SGA)

Over the past six months, Saga Communications' stock traded between $10.68 and $14.27, closing at $11.78 on April 10, 2026. In Q4 2025, net revenue decreased by 9.3% compared to the previous year, and for the full year 2025, net revenue decreased by 5.1%. The company recorded a $20.4 million non-cash impairment charge, leading to a net loss for the year, though digital revenue increased by 19.1% for the full year and 25.8% for Q4. Saga Communications declared quarterly cash dividends of $0.25 per share in November 2025 and February 2026. In December 2025, the company repurchased 2.8% of its outstanding shares, totaling 219,326 shares for $2.5 million during 2025. Saga Communications closed on the sale of 22 telecommunications tower sites on October 17, 2025, recognizing a gain of $11.6 million from total proceeds of $15.1 million. An industry-wide music licensing rate settlement increased 2025 station operating expenses by $2.2 million.

Demand seasonality for Saga Communications' advertising is influenced by political advertising, which is higher in election years and declines in non-election years. The broader advertising market also sees increased spending during holiday seasons and specific retail periods. Saga Communications' focus on local economies supported by government or universities may provide some stability to demand. The company's growing digital revenue may help to mitigate some of the traditional seasonality associated with linear broadcast advertising.

Saga Communications, Inc. is a media company focused on acquiring and operating broadcast properties in the United States, primarily top-billing radio stations in mid-sized markets. The company operates in the Broadcasting, Radio and Television sector and industry. Its services include radio broadcasting with various programming formats and digital solutions like websites, mobile apps, content streaming, podcasts, and e-commerce platforms. The company's primary revenue source is advertising sales, with a growing emphasis on digital advertising.

Saga Communications owns or operates broadcast properties in approximately 27 markets across the United States, including 79 FM and 34 AM radio stations, and 79 metro signals. Some of the markets where Saga Communications operates include Asheville, Bellingham, Brattleboro, Bucyrus, Champaign, Charleston, Charlottesville, Clarksville, Columbus, Des Moines, Harrisonburg, Hilton Head Island, Jonesboro, Manchester, and Milwaukee. The company's headquarters are located in Grosse Pointe Farms, Michigan.

Saga Communications maintains a local-first radio model, focusing on community news, personalities, and stable cash flows, which contributes to its resilience in local radio. The company emphasizes hyper-local sales and marketing, community ties, digital services, and event revenue to compete effectively. The company's reputation has been influenced by its strategic shift towards digital transformation, with management highlighting ongoing investments in digital infrastructure and blended sales strategies. The company's commitment to shareholder returns through regular quarterly dividends and stock buyback plans also contributes positively to its financial reputation.

Saga Communications has a mixed ownership structure, with approximately 50.21% of the company's stock owned by Institutional Investors, 19.16% by Insiders, and 30.63% by Public Companies and Individual Investors. Major institutional shareholders include Towerview Llc, Gate City Capital Management, Llc, Dimensional Fund Advisors Lp, Vanguard Group Inc, Peapod Lane Capital LLC, BlackRock, Inc., Renaissance Technologies Llc, Bridgeway Capital Management Inc, Geode Capital Management, Llc, Mork Capital Management, LLC and Hoak & Co. Diarmuid McNamee owns the most shares among individual investors.