Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Gate City Capital Management, Purchases 240,609 Shares

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Gate City Capital Management, purchased 240,609 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were acquired at an average cost of $11.25 per share, for a total transaction of $2,706,851.25. Following the completion of 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saga Communications Stock Performance

Shares of NASDAQ:SGA opened at $11.55 on Thursday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Saga Communications, Inc. has a 12-month low of $10.75 and a 12-month high of $24.70. The company’s 50 day moving average price is $12.31 and its two-hundred day moving average price is $13.97. The firm has a market cap of $72.31 million, a PE ratio of 16.04 and a beta of 0.26.

Saga Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 8.66%. Saga Communications’s dividend payout ratio (DPR) is presently 138.89%.

Institutional Trading of Saga Communications

A number of institutional investors have recently modified their holdings of SGA. Dimensional Fund Advisors LP increased its position in shares of Saga Communications by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock worth $5,691,000 after purchasing an additional 4,015 shares during the period. Renaissance Technologies LLC lifted its position in Saga Communications by 5.9% during the second quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock worth $1,933,000 after purchasing an additional 6,800 shares during the period. Aristides Capital LLC grew its stake in Saga Communications by 12.7% during the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after buying an additional 1,220 shares in the last quarter. Marquette Asset Management LLC increased its holdings in Saga Communications by 4.2% in the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after buying an additional 894 shares during the period. Finally, Empowered Funds LLC raised its position in shares of 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 in the last quarter. 74.28% of the stock is currently owned by institutional investors.

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.