Saga Communications (NASDAQ:SGA) Shares Up 2.5% – Here’s What Happened

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

Saga Communications Price Performance

The firm has a market cap of $72.94 million, a PE ratio of 16.18 and a beta of 0.26. 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 firm has a 50-day simple moving average of $12.36 and a 200 day simple moving average of $13.99.

Saga Communications Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 8.58%. Saga Communications’s dividend payout ratio (DPR) is currently 138.89%.

Institutional Trading of Saga Communications

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