Peapod Lane Capital LLC grew its stake in shares of Saga Communications, Inc. (NASDAQ:SGA - Free Report) by 34.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,707 shares of the company's stock after purchasing an additional 51,884 shares during the quarter. Saga Communications makes up about 2.9% of Peapod Lane Capital LLC's holdings, making the stock its 10th biggest position. Peapod Lane Capital LLC owned 3.16% of Saga Communications worth $2,540,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Saga Communications by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 58,432 shares of the company's stock worth $645,000 after acquiring an additional 4,753 shares during the last quarter. Aristides Capital LLC grew its position in shares of Saga Communications by 12.1% during the fourth quarter. Aristides Capital LLC now owns 12,160 shares of the company's stock worth $134,000 after acquiring an additional 1,310 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 acquiring an additional 1,770 shares during the last quarter. Northern Trust Corp grew its position in shares of Saga Communications by 10.4% during the fourth quarter. Northern Trust Corp now owns 13,874 shares of the company's stock worth $153,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Saga Communications during the fourth quarter worth approximately $115,000. Institutional investors and hedge funds own 74.28% of the company's stock.
Insiders Place Their Bets
In related news, major shareholder Edward K. Christian Trust sold 9,583 shares of Saga Communications stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $12.72, for a total value of $121,895.76. Following the transaction, the insider directly owned 927,125 shares in the company, valued at $11,793,030. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 28,005 shares of company stock valued at $362,963. Company insiders own 22.40% of the company's stock.
Saga Communications Stock Performance
NASDAQ:SGA traded down $0.32 during midday trading on Friday, reaching $13.42. The stock had a trading volume of 9,177 shares, compared to its average volume of 15,285. The firm has a fifty day simple moving average of $12.44 and a two-hundred day simple moving average of $12.07. Saga Communications, Inc. has a 12-month low of $10.75 and a 12-month high of $16.48. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.03. The stock has a market cap of $86.42 million, a P/E ratio of 24.40 and a beta of 0.29.
Saga Communications (NASDAQ:SGA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.08. Saga Communications had a net margin of 3.15% and a return on equity of 2.09%. The firm had revenue of $24.21 million for the quarter, compared to analyst estimates of $23.00 million. On average, equities analysts expect that Saga Communications, Inc. will post 0.23 EPS for the current year.
Saga Communications Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were given a $0.25 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 7.45%. Saga Communications's dividend payout ratio (DPR) is 181.82%.
Analyst Ratings Changes
Separately, Wall Street Zen began coverage on shares of Saga Communications in a research report on Tuesday, May 20th. They set a "hold" rating on the stock.
Check Out Our Latest Research Report on Saga Communications
About Saga Communications
(
Free Report)
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.
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