Royce & Associates LP Reduces Holdings in Saga Communications, Inc. (NASDAQ:SGA)

Royce & Associates LP reduced its holdings in shares of Saga Communications, Inc. (NASDAQ:SGA) by 49.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 73,792 shares of the company’s stock after selling 72,347 shares during the period. Royce & Associates LP owned approximately 1.18% of Saga Communications worth $814,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of SGA. Empowered Funds LLC raised its position in Saga Communications by 4.6% during the fourth quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock worth $316,000 after acquiring an additional 1,247 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Saga Communications by 5.9% during the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after buying an additional 2,986 shares in the last quarter. Krilogy Financial LLC purchased a new stake in shares of Saga Communications during the fourth quarter worth about $265,000. Finally, Peapod Lane Capital LLC purchased a new stake in Saga Communications in the fourth quarter valued at approximately $1,675,000. 74.28% of the stock is owned by hedge funds and other institutional investors.

Saga Communications Price Performance

Saga Communications stock opened at $12.60 on Friday. Saga Communications, Inc. has a 52-week low of $10.75 and a 52-week high of $23.56. The firm has a fifty day moving average of $12.07 and a 200-day moving average of $12.84. The firm has a market capitalization of $78.89 million, a P/E ratio of 17.50 and a beta of 0.27. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Saga Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.94%. The ex-dividend date of this dividend was Tuesday, February 18th. Saga Communications’s payout ratio is currently 181.82%.

Insider Transactions at Saga Communications

In other news, major shareholder Gate City Capital Management, bought 240,609 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $2,706,851.25. Following the completion of the purchase, the insider now owns 863,845 shares of the company’s stock, valued at $9,718,256.25. This trade represents a 38.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Edward K. Christian Trust sold 5,651 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $12.72, for a total transaction of $71,880.72. Following the transaction, the insider now owns 945,000 shares in the company, valued at $12,020,400. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,400 shares of company stock valued at $193,575 over the last 90 days. Corporate insiders own 21.90% of the company’s stock.

Saga Communications 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.