Peapod Lane Capital LLC Purchases Shares of 151,823 Saga Communications, Inc. (NASDAQ:SGA)

Peapod Lane Capital LLC acquired a new position in Saga Communications, Inc. (NASDAQ:SGA) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 151,823 shares of the company’s stock, valued at approximately $1,675,000. Saga Communications makes up about 1.7% of Peapod Lane Capital LLC’s holdings, making the stock its 25th biggest position.

Several other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in Saga Communications by 5.9% in the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after acquiring an additional 2,986 shares during the period. Empowered Funds LLC raised its position in shares of Saga Communications by 4.6% in the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock worth $316,000 after acquiring an additional 1,247 shares in the last quarter. Finally, Krilogy Financial LLC purchased a new position in shares of Saga Communications in the 4th quarter valued at approximately $265,000. 74.28% of the stock is owned by hedge funds and other institutional investors.

Saga Communications Price Performance

Shares of SGA stock opened at $12.40 on Thursday. The business’s fifty day moving average is $11.98 and its 200 day moving average is $13.45. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The stock has a market cap of $77.62 million, a price-to-earnings ratio of 17.22 and a beta of 0.27. Saga Communications, Inc. has a twelve month low of $10.75 and a twelve month high of $24.70.

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.06%. The ex-dividend date is Tuesday, February 18th. Saga Communications’s payout ratio is currently 138.89%.

Insider Transactions at Saga Communications

In other Saga Communications news, major shareholder Gate City Capital Management, acquired 240,609 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were bought at an average cost of $11.25 per share, with a total value of $2,706,851.25. Following the completion of the transaction, the insider now directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Edward K. Christian Trust sold 2,326 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.10, for a total transaction of $28,144.60. Following the transaction, the insider now owns 962,280 shares in the company, valued at $11,643,588. This represents a 0.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,943 shares of company stock valued at $137,790 in the last ninety days. 21.90% of the stock is currently 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.