Saga Communications, Inc. (NASDAQ:SGA) Position Increased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Saga Communications, Inc. (NASDAQ:SGA) by 5.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,679 shares of the company’s stock after purchasing an additional 2,986 shares during the period. Geode Capital Management LLC owned 0.86% of Saga Communications worth $771,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SGA. Renaissance Technologies LLC lifted its holdings in Saga Communications by 5.9% in the second quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock worth $1,933,000 after purchasing an additional 6,800 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 in the last quarter. Empowered Funds LLC lifted its stake 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 period. Aristides Capital LLC boosted its holdings in shares of Saga Communications by 12.7% in the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Marquette Asset Management LLC increased its stake in shares of Saga Communications by 4.2% during 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. Institutional investors and hedge funds own 74.28% of the company’s stock.

Saga Communications Stock Performance

SGA opened at $11.50 on Friday. The business has a 50 day moving average price of $12.21 and a two-hundred day moving average price of $13.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. The company has a market capitalization of $72.00 million, a price-to-earnings ratio of 15.97 and a beta of 0.26. Saga Communications, Inc. has a 1-year low of $10.75 and a 1-year high of $24.70.

Saga Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 8.70%. Saga Communications’s dividend payout ratio is currently 138.89%.

Insider Buying and Selling

In other Saga Communications news, major shareholder Gate City Capital Management, bought 240,609 shares of Saga Communications stock in a transaction that occurred on Tuesday, December 31st. The stock was purchased at an average cost of $11.25 per share, for a total transaction of $2,706,851.25. Following the completion of the acquisition, the insider now owns 863,845 shares of the company’s stock, valued at approximately $9,718,256.25. This represents a 38.61 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 21.90% of the stock is owned by corporate insiders.

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.