Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Purchases $2,706,851.25 in Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Gate City Capital Management, purchased 240,609 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was bought at an average cost of $11.25 per share, with a total value of $2,706,851.25. Following the purchase, the insider now owns 863,845 shares of the company’s stock, valued at $9,718,256.25. This represents a 38.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saga Communications Price Performance

SGA stock traded up $0.25 during mid-day trading on Wednesday, hitting $11.90. The stock had a trading volume of 24,928 shares, compared to its average volume of 25,718. The firm has a fifty day simple moving average of $12.36 and a 200 day simple moving average of $13.99. The firm has a market capitalization of $74.51 million, a P/E ratio of 16.53 and a beta of 0.26. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. Saga Communications, Inc. has a 52 week low of $10.75 and a 52 week high of $24.70.

Saga Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.40%. Saga Communications’s dividend payout ratio (DPR) is currently 138.89%.

Institutional Trading of Saga Communications

Several large investors have recently bought and sold shares of SGA. Marquette Asset Management LLC raised its holdings in Saga Communications by 4.2% in the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after buying an additional 894 shares during the last quarter. Aristides Capital LLC lifted its holdings in shares of Saga Communications by 12.7% during the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after purchasing an additional 1,220 shares during the period. Empowered Funds LLC grew its stake in shares of Saga Communications by 5.1% in the third quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after purchasing an additional 1,340 shares during the last quarter. Geode Capital Management LLC raised its position in Saga Communications by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after purchasing an additional 2,986 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Saga Communications by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock worth $5,691,000 after buying an additional 4,015 shares during the period. 74.28% of the stock is owned by institutional investors and hedge funds.

Saga Communications Company Profile

Saga Communications, Inc, a media company, engages in acquiring, developing, and operating broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, country, classic country, hot/soft/urban adult contemporary, oldies, classic rock, rock, and news/talk.