Peapod Lane Capital LLC Makes New $1.68 Million Investment in Saga Communications, Inc. (NASDAQ:SGA)

Peapod Lane Capital LLC bought a new position in Saga Communications, Inc. (NASDAQ:SGA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 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 portfolio, making the stock its 25th largest holding. Peapod Lane Capital LLC owned 2.43% of Saga Communications at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Empowered Funds LLC boosted its stake in shares of Saga Communications by 5.1% during the third 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. Geode Capital Management LLC raised 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 valued at $771,000 after buying an additional 2,986 shares during the last quarter. Finally, Krilogy Financial LLC acquired a new stake in Saga Communications in the 4th quarter worth approximately $265,000. 74.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Saga Communications news, major shareholder Gate City Capital Management, acquired 240,609 shares of the stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average price of $11.25 per share, with a total value of $2,706,851.25. Following the completion of the purchase, the insider now owns 863,845 shares in the company, valued at $9,718,256.25. This trade represents a 38.61 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $71,880.72. Following the completion of the sale, the insider now owns 945,000 shares in the company, valued at approximately $12,020,400. The trade was a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,943 shares of company stock worth $137,790 over the last three months. 21.90% of the stock is currently owned by corporate insiders.

Saga Communications Stock Performance

NASDAQ SGA traded up $0.08 during trading hours on Monday, reaching $12.61. The stock had a trading volume of 28,003 shares, compared to its average volume of 13,304. The stock has a market cap of $78.94 million, a P/E ratio of 17.51 and a beta of 0.27. Saga Communications, Inc. has a 52-week low of $10.75 and a 52-week high of $24.70. The stock has a fifty day moving average of $12.01 and a 200 day moving average of $13.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64.

Saga Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 18th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.00 annualized dividend and a dividend yield of 7.93%. Saga Communications's dividend payout ratio is presently 138.89%.

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.