Is any still in this stock? It's awful quiet around here. I figured there'd be at least a couple of cheerleaders around to rah-rah the fact that this POS has managed to stay above $7 bucks! If you're the last one out, turn off the lights before you go.....
As a concerned investor in this company for several years, I would like to express my dissappointment in their decision to accept ads from a local strip club. In Springfield, Saga operates five stations, broadcasting to all ages. On June first, they began airing ads for this club for the first time since I can remember.
I have nothing against the business operating operating within the law. However, with the strict FCC guidelines we've seen the past months, I am selling my Saga stock today as an effort to preserve capital. The fines are stiff, and there's no telling how the listeners will react in this quite coversative area of midtown America. I am not in any way preaching my morals here. I just think that the investors both insitutional and private need to have an accurate account as where this company is going for revenue. Make your own choice. But this is not the Saga I've known or thought I knew in the past.
The newspapers have refused them as advertisers as well.
I've noticed the quiet, too, Sparkie - but also from the Saga-bashers since the stock started to recover a bit. Said it before, and this seems a good time to say it again; Saga needs a few quarters of doing what they say they can do, and this undervalued stock has a good upside. They've had a few quarters meeting expectations, and the recovery's starting.
The combination of some questionable expense management in '05 and one of their major initial small-cap fund investors dropping its position put big downward pressure on SGA for a year, but they now have a more diversified set of funds invested in the company and they've had three quarters meeting or beating expectations.
Anyone who put a few dollars into Saga a couple months ago is looking pretty wise right now. $15's a pretty reasonable place for the stock to be in a year, based on P/E ratios elsewhere in the industry. Management needs to keep delivering, but it looks like they may be back on track.