A Strong Surge For Saga Shares


It may have been a moribund Monday on Wall Street, but it was a sizzling session for Saga Communications.

The owner of radio and television stations saw its stock surge 2.7%, to $50.25, easily becoming the biggest mover among media companies tracked by RBR + TVBR.

Trading volume was slightly higher than average, at 6,916 shares.

Saga shares are just shy of their 52-week high of $51.25, and were down 1% in after-hours trading.

In other activity regarding media companies, Viacom slipped 1.2%, to $42.87, as Townsquare Media was off 5.5%, to $12.10, on exceptionally high volume of 147,460 shares; its average volume is 60,345 shares.

Also seeing a dip in shares on Monday was iHeartMedia, which gave back 7.5% after a recent finish above $2 a share, ending at $1.85.

Lastly, the struggles continue at Cumulus Media, with CMLS shares dipping 2.9%, to 47 cents.