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

Royce & Associates LP decreased its stake in Saga Communications, Inc. (NASDAQ:SGA) by 30.5% during the 3rd quarter, according to the company in its most recent disclosure 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 2.33% of Saga Communications worth $2,099,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marquette Asset Management LLC raised its holdings in shares of Saga Communications by 4.2% in the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock worth $318,000 after purchasing an additional 894 shares during the period. Aristides Capital LLC raised its stake in shares of 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 buying an additional 1,220 shares during the period. Perritt Capital Management Inc. raised its stake in shares of 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 buying an additional 2,000 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Saga Communications by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock valued at $5,691,000 after buying an additional 4,015 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Saga Communications by 5.9% during 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 period. 74.28% of the stock is currently owned by hedge funds and other institutional investors.

Saga Communications Trading Up 2.1 %

Shares of Saga Communications stock opened at $12.05 on Wednesday. The stock has a market capitalization of $75.43 million, a P/E ratio of 16.74 and a beta of 0.26. Saga Communications, Inc. has a 52-week low of $11.71 and a 52-week high of $27.00. 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 stock’s 50-day simple moving average is $14.03 and its 200 day simple moving average is $15.59.

Saga Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date is Monday, November 25th. Saga Communications’s payout ratio is currently 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.