Nuveen LLC Buys Shares of 42,393 Saga Communications, Inc. $SGA

Key Points

• Nuveen LLC recently invested approximately $529,000 in Saga Communications, acquiring 42,393 shares, which represents about 0.66% of the company.
• Saga Communications announced a quarterly dividend of $0.25, resulting in an annualized yield of 8.3%.
• The company's stock has seen a 2.3% increase recently, with a current market cap of $77.73 million and a PE ratio of 36.58.

Nuveen LLC acquired a new stake in Saga Communications, Inc. (NASDAQ:SGA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 42,393 shares of the company's stock, valued at approximately $529,000. Nuveen LLC owned approximately 0.66% of Saga Communications as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Saga Communications by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company's stock worth $3,914,000 after purchasing an additional 1,770 shares in the last quarter. Northern Trust Corp lifted its position in Saga Communications by 10.4% in the fourth quarter. Northern Trust Corp now owns 13,874 shares of the company's stock valued at $153,000 after purchasing an additional 1,306 shares during the period. Jane Street Group LLC acquired a new position in Saga Communications during the fourth quarter worth $115,000. Bridgeway Capital Management LLC lifted its stake in shares of Saga Communications by 1.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company's stock valued at $861,000 after purchasing an additional 847 shares during the period. Finally, Gate City Capital Management LLC boosted its position in Saga Communications by 94.5% during the fourth quarter. Gate City Capital Management LLC now owns 863,845 shares of the company's stock worth $9,528,000 after purchasing an additional 419,714 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen started coverage on shares of Saga Communications in a research note on Tuesday, May 20th. They set a "hold" rating for the company.

Saga Communications Price Performance

Shares of SGA traded up $0.01 during trading hours on Wednesday, hitting $12.03. 3,408 shares of the company were exchanged, compared to its average volume of 10,253. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.76 and a quick ratio of 2.76. The company has a market capitalization of $77.47 million, a PE ratio of 36.45 and a beta of 0.35. The firm has a fifty day simple moving average of $12.88 and a 200-day simple moving average of $12.30. Saga Communications, Inc. has a one year low of $10.75 and a one year high of $15.10.

Saga Communications (NASDAQ:SGA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $28.23 million during the quarter, compared to analysts' expectations of $28.55 million. Saga Communications had a net margin of 1.91% and a return on equity of 1.27%. As a group, sell-side analysts predict that Saga Communications, Inc. will post 0.23 earnings per share for the current year.

Saga Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Tuesday, August 26th. Saga Communications's payout ratio is currently 303.03%.

Insider Buying and Selling at Saga Communications

In related news, major shareholder Edward K. Christian Trust sold 6,269 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $13.05, for a total transaction of $81,810.45. Following the completion of the sale, the insider directly owned 914,008 shares in the company, valued at approximately $11,927,804.40. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 36,398 shares of company stock valued at $481,913 over the last 90 days. Corporate insiders own 22.40% of the company's stock.

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.