What Fueled Saga Shares On Tuesday?


Five days ago, Saga Communications delivered first quarter results that were less than stellar. Expense reductions were not enough to prevent Saga from seeing its net income dip to $758,000 ($0.13 per share) from $1.68 million ($0.28). However, Saga’s debt leverage ratio is 0.92, with just $10 million in long-term debt.

That could be particularly attractive to investors. It’s just one theory as to why Saga shares rocketed upward by 30% on Tuesday.

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