Saga Communications (NASDAQ:SGA) Shares Up 2.5% – Still a Buy?

Saga Communications, Inc. (NASDAQ:SGA) shares traded up 2.5% on Tuesday . The company traded as high as $11.93 and last traded at $11.65. 30,269 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 25,942 shares. The stock had previously closed at $11.37.

Saga Communications Trading Down 0.9 %

The stock has a market capitalization of $72.31 million, a PE ratio of 16.04 and a beta of 0.26. The stock’s 50 day moving average price is $12.31 and its 200-day moving average price is $13.97. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Saga Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.66%. The ex-dividend date was Monday, November 25th. Saga Communications’s dividend payout ratio is currently 138.89%.

Insider Activity at Saga Communications

In related news, major shareholder Gate City Capital Management, purchased 240,609 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were acquired at an average price of $11.25 per share, for a total transaction of $2,706,851.25. Following the purchase, the insider now directly owns 863,845 shares in the company, valued at $9,718,256.25. This trade 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 link. 21.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Saga Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Aristides Capital LLC raised its holdings in Saga Communications by 12.7% during the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after buying an additional 1,220 shares during the period. Marquette Asset Management LLC raised its stake in shares of Saga Communications by 4.2% in the third quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after acquiring an additional 894 shares during the period. Empowered Funds LLC lifted its holdings in shares of Saga Communications by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after acquiring an additional 1,340 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 period. Finally, Renaissance Technologies LLC grew its holdings in Saga Communications by 5.9% during the 2nd quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock valued at $1,933,000 after purchasing an additional 6,800 shares during the last quarter. 74.28% of the stock is owned by hedge funds and other institutional investors.

About Saga Communications

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.