Saga Communications, Inc. (NASDAQ:SGA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of Saga Communications, Inc. (NASDAQ:SGA) by 6.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,510 shares of the company’s stock after selling 3,060 shares during the quarter. Bank of New York Mellon Corp owned about 0.66% of Saga Communications worth $654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SGA. Perritt Capital Management Inc. increased its holdings in shares of Saga Communications by 200.0% during the 1st quarter. Perritt Capital Management Inc. now owns 3,000 shares of the company’s stock worth $67,000 after buying an additional 2,000 shares during the last quarter. Lokken Investment Group LLC purchased a new position in Saga Communications in the fourth quarter valued at approximately $200,000. Empowered Funds LLC lifted its position in Saga Communications by 37.5% during the first quarter. Empowered Funds LLC now owns 24,250 shares of the company’s stock valued at $541,000 after buying an additional 6,614 shares in the last quarter. Finally, Gate City Capital Management LLC purchased a new stake in Saga Communications during the fourth quarter worth approximately $10,195,000. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Saga Communications Price Performance

SGA stock opened at $14.51 on Tuesday. The stock has a 50-day simple moving average of $15.00 and a 200-day simple moving average of $18.19. The firm has a market cap of $90.88 million, a P/E ratio of 12.96 and a beta of 0.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 2.69. Saga Communications, Inc. has a 1 year low of $14.06 and a 1 year high of $27.00.

Saga Communications (NASDAQ:SGA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.23). The business had revenue of $28.74 million for the quarter. Saga Communications had a net margin of 5.51% and a return on equity of 4.00%. During the same period in the previous year, the business posted $0.55 EPS. On average, equities analysts predict that Saga Communications, Inc. will post 0.49 earnings per share for the current fiscal year.

Saga Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Wednesday, September 25th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.89%. The ex-dividend date of this dividend is Wednesday, September 25th. Saga Communications’s payout ratio is currently 89.29%.

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.