Saga Communications (NASDAQ:SGA) Stock Price Up 2.5% - Should You Buy?

Shares of Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) traded up 2.5% during mid-day trading on Tuesday . The company traded as high as $11.93 and last traded at $11.65. 30,269 shares were traded during trading, an increase of 17% from the average session volume of 25,942 shares. The stock had previously closed at $11.37.

Saga Communications Stock Performance

The company has a market capitalization of $72.31 million, a price-to-earnings ratio of 16.04 and a beta of 0.26. The firm has a fifty day simple moving average of $12.36 and a 200 day simple moving average of $13.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 25th were given a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 8.66%. Saga Communications's dividend payout ratio (DPR) is 138.89%.

Insider Activity at Saga Communications

In other Saga Communications news, major shareholder Gate City Capital Management, bought 240,609 shares of the stock in a transaction on Tuesday, December 31st. The shares were bought at an average price of $11.25 per share, with a total value of $2,706,851.25. Following the purchase, the insider now directly owns 863,845 shares in the company, valued at $9,718,256.25. This trade represents a 38.61 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Saga Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Aristides Capital LLC lifted its stake in Saga Communications by 12.7% in the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company's stock worth $171,000 after purchasing an additional 1,220 shares in the last quarter. Marquette Asset Management LLC lifted its position in Saga Communications by 4.2% during the third quarter. Marquette Asset Management LLC now owns 22,111 shares of the company's stock worth $318,000 after buying an additional 894 shares in the last quarter. Empowered Funds LLC boosted its stake in Saga Communications by 5.1% during the third quarter. Empowered Funds LLC now owns 27,390 shares of the company's stock worth $393,000 after buying an additional 1,340 shares during the last quarter. Geode Capital Management LLC grew its holdings in Saga Communications by 5.9% in the 3rd 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 in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Saga Communications by 5.9% in the 2nd quarter. Renaissance Technologies LLC now owns 122,744 shares of the company's stock worth $1,933,000 after acquiring an additional 6,800 shares during the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

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.