Saga Communications, Inc. (NASDAQ:SGA) Shares Sold by Royce & Associates LP

Royce & Associates LP decreased its position in Saga Communications, Inc. (NASDAQ:SGA - Free Report) by 49.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,792 shares of the company's stock after selling 72,347 shares during the quarter. Royce & Associates LP owned 1.18% of Saga Communications worth $814,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SGA. Peapod Lane Capital LLC purchased a new stake in Saga Communications during the 4th quarter worth approximately $1,675,000. Krilogy Financial LLC acquired a new position in shares of Saga Communications in the fourth quarter worth $265,000. Geode Capital Management LLC increased its position 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 acquiring an additional 2,986 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Saga Communications by 5.1% in the third quarter. Empowered Funds LLC now owns 27,390 shares of the company's stock valued at $393,000 after acquiring an additional 1,340 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Saga Communications news, major shareholder Gate City Capital Management, purchased 240,609 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was purchased at an average cost of $11.25 per share, with a total value of $2,706,851.25. Following the completion of the acquisition, the insider now directly owns 863,845 shares of the company's stock, valued at $9,718,256.25. This trade represents a 38.61 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Edward K. Christian Trust sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $12.56, for a total transaction of $62,800.00. Following the sale, the insider now directly owns 938,250 shares in the company, valued at approximately $11,784,420. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,400 shares of company stock worth $193,575. Corporate insiders own 21.90% of the company's stock.

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Saga Communications Stock Performance

NASDAQ:SGA remained flat at $12.55 during midday trading on Wednesday. The company had a trading volume of 6,385 shares, compared to its average volume of 17,163. Saga Communications, Inc. has a 52-week low of $10.75 and a 52-week high of $23.56. The firm has a market cap of $78.58 million, a price-to-earnings ratio of 17.43 and a beta of 0.27. 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 business's 50-day simple moving average is $12.11 and its two-hundred day simple moving average is $12.78.

Saga Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.00 annualized dividend and a dividend yield of 7.97%. Saga Communications's dividend payout ratio (DPR) is currently 181.82%.

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.