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

Royce & Associates LP decreased its holdings in shares of Saga Communications, Inc. (NASDAQ:SGA - Free Report) by 30.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,139 shares of the company's stock after selling 64,032 shares during the period. Royce & Associates LP owned approximately 2.33% of Saga Communications worth $2,099,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC lifted its position in Saga Communications by 5.9% in the second 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. Dimensional Fund Advisors LP lifted its position in Saga Communications by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company's stock valued at $5,691,000 after purchasing an additional 4,015 shares during the period. Perritt Capital Management Inc. lifted its position in Saga Communications by 200.0% in the first quarter. Perritt Capital Management Inc. now owns 3,000 shares of the company's stock valued at $67,000 after purchasing an additional 2,000 shares during the period. Aristides Capital LLC lifted its position in Saga Communications by 12.7% in the second quarter. Aristides Capital LLC now owns 10,850 shares of the company's stock valued at $171,000 after purchasing an additional 1,220 shares during the period. Finally, Marquette Asset Management LLC lifted its position in Saga Communications by 4.2% in the third quarter. Marquette Asset Management LLC now owns 22,111 shares of the company's stock valued at $318,000 after purchasing an additional 894 shares during the period. Institutional investors and hedge funds own 74.28% of the company's stock.

Saga Communications Stock Performance

NASDAQ:SGA traded up $0.15 during mid-day trading on Wednesday, reaching $12.20. The stock had a trading volume of 2,110 shares, compared to its average volume of 15,494. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. The firm has a market capitalization of $76.37 million, a price-to-earnings ratio of 16.74 and a beta of 0.26. Saga Communications, Inc. has a twelve month low of $11.71 and a twelve month high of $27.00. The business has a 50 day simple moving average of $14.03 and a 200 day simple moving average of $15.59.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 8.20%. Saga Communications's dividend payout ratio (DPR) is presently 138.89%.

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.