Minerva Advisors LLC Has $364,000 Holdings in Saga Communications, Inc. $SGA

Minerva Advisors LLC cut its stake in shares of Saga Communications, Inc. (NASDAQ:SGA) by 86.0% in the fourth quarter, Holdings Channel reports. The firm owned 31,831 shares of the company’s stock after selling 194,857 shares during the quarter. Minerva Advisors LLC’s holdings in Saga Communications were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Empowered Funds LLC grew its stake in shares of Saga Communications by 6.2% during the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock worth $379,000 after purchasing an additional 1,769 shares during the period. Bank of America Corp DE grew its stake in Saga Communications by 30,720.0% in the third quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock valued at $211,000 after acquiring an additional 16,896 shares during the period. Finally, Osaic Holdings Inc. grew its stake in Saga Communications by 256.7% in the second quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock valued at $52,000 after acquiring an additional 2,867 shares during the period. 74.28% of the stock is owned by institutional investors and hedge funds.

Saga Communications Price Performance

NASDAQ:SGA opened at $9.58 on Tuesday. Saga Communications, Inc. has a 1 year low of $9.53 and a 1 year high of $14.27. The company has a current ratio of 2.81, a quick ratio of 2.81 and a debt-to-equity ratio of 0.03. The stock has a market cap of $60.93 million, a price-to-earnings ratio of -7.10 and a beta of -0.07. The stock has a 50-day moving average price of $11.23 and a two-hundred day moving average price of $11.45.

Saga Communications (NASDAQ:SGA) last posted its earnings results on Thursday, March 12th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $1.23. Saga Communications had a positive return on equity of 3.88% and a negative net margin of 8.24%.The firm had revenue of $26.51 million during the quarter, compared to analysts’ expectations of $27.70 million. As a group, equities analysts expect that Saga Communications, Inc. will post -0.57 earnings per share for the current year.

Saga Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.4%. The ex-dividend date of this dividend is Friday, May 22nd. Saga Communications’s payout ratio is presently -74.07%.

Analyst Ratings Changes

A number of research firms have issued reports on SGA. Noble Financial cut Saga Communications from a “strong-buy” rating to a “market perform” rating in a research note on Monday, May 11th. Weiss Ratings cut Saga Communications from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Insider Buying and Selling at Saga Communications

In other news, major shareholder Edward K. Christian Trust sold 5,665 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $12.07, for a total transaction of $68,376.55. Following the completion of the transaction, the insider directly owned 881,044 shares of the company’s stock, valued at $10,634,201.08. This represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.40% of the stock is owned by corporate insiders.

About Saga Communications

Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.

Founded in 1985 by Edward J.