Marquette Asset Management LLC lifted its holdings in shares of Saga Communications, Inc. (NASDAQ:SGA – Free Report) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,111 shares of the company’s stock after acquiring an additional 894 shares during the quarter. Marquette Asset Management LLC owned approximately 0.35% of Saga Communications worth $318,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gate City Capital Management LLC bought a new stake in Saga Communications during the 4th quarter valued at approximately $10,195,000. Renaissance Technologies LLC lifted its stake in shares of Saga Communications by 5.9% in 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 period. Empowered Funds LLC boosted its position in shares of 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 purchasing an additional 6,614 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Saga Communications by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock worth $5,691,000 after purchasing an additional 4,015 shares during the period. Finally, Perritt Capital Management Inc. raised its holdings in Saga Communications by 200.0% in the first quarter. Perritt Capital Management Inc. now owns 3,000 shares of the company’s stock worth $67,000 after purchasing an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.
Saga Communications Stock Performance
Shares of Saga Communications stock opened at $14.04 on Wednesday. Saga Communications, Inc. has a 12 month low of $13.91 and a 12 month high of $27.00. The firm has a market capitalization of $87.90 million, a P/E ratio of 12.53 and a beta of 0.26. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $14.82 and a two-hundred day simple moving average of $17.45.
Saga Communications Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Wednesday, September 25th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $1.00 annualized dividend and a dividend yield of 7.13%. Saga Communications’s payout ratio is presently 89.29%.
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.
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