Minerva Advisors LLC Sells 3,790 Shares of Saga Communications, Inc. (NASDAQ:SGA)

Minerva Advisors LLC lessened its holdings in Saga Communications, Inc. (NASDAQ:SGA) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,688 shares of the company’s stock after selling 3,790 shares during the quarter. Saga Communications makes up approximately 1.5% of Minerva Advisors LLC’s investment portfolio, making the stock its 19th largest position. Minerva Advisors LLC’s holdings in Saga Communications were worth $2,498,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SGA. Peapod Lane Capital LLC bought a new position in Saga Communications in the 4th quarter valued at approximately $1,675,000. Krilogy Financial LLC bought a new position in Saga Communications in the 4th quarter valued at approximately $265,000. Geode Capital Management LLC raised 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 during the last quarter. Finally, Empowered Funds LLC raised its holdings in Saga Communications by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock valued at $393,000 after buying an additional 1,340 shares during the last quarter. Institutional investors own 74.28% of the company’s stock.

Insider Buying and Selling at Saga Communications

In other news, major shareholder Gate City Capital Management, bought 240,609 shares of the firm’s stock in a transaction on 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 transaction, the insider now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 of the company’s stock, valued at approximately $11,784,420. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,943 shares of company stock valued at $200,590. 21.90% of the stock is currently owned by company insiders.

Saga Communications Stock Performance

NASDAQ:SGA opened at $11.69 on Tuesday. The company has a market capitalization of $73.19 million, a PE ratio of 16.24 and a beta of 0.27. The company has a 50 day simple moving average of $12.01 and a two-hundred day simple moving average of $13.26. 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, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $24.67.

Saga Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.55%. The ex-dividend date is Tuesday, February 18th. Saga Communications’s dividend payout ratio 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.