Saga Communications, Inc. (NASDAQ:SGA) Stake Lifted by Peapod Lane Capital LLC

Peapod Lane Capital LLC increased its stake in shares of Saga Communications, Inc. (NASDAQ:SGA - Free Report) by 34.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 203,707 shares of the company's stock after purchasing an additional 51,884 shares during the period. Saga Communications makes up approximately 2.9% of Peapod Lane Capital LLC's investment portfolio, making the stock its 10th largest position. Peapod Lane Capital LLC owned 3.16% of Saga Communications worth $2,540,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in Saga Communications by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 58,432 shares of the company's stock valued at $645,000 after acquiring an additional 4,753 shares in the last quarter. Aristides Capital LLC boosted its stake in shares of Saga Communications by 12.1% in the fourth quarter. Aristides Capital LLC now owns 12,160 shares of the company's stock valued at $134,000 after purchasing an additional 1,310 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Saga Communications by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company's stock valued at $3,914,000 after purchasing an additional 1,770 shares in the last quarter. Northern Trust Corp increased its stake in Saga Communications by 10.4% during the 4th quarter. Northern Trust Corp now owns 13,874 shares of the company's stock worth $153,000 after buying an additional 1,306 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Saga Communications during the 4th quarter worth approximately $115,000. Institutional investors and hedge funds own 74.28% of the company's stock.

Analysts Set New Price Targets

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

Saga Communications Stock Down 0.6%

NASDAQ:SGA traded down $0.08 during midday trading on Thursday, reaching $13.34. The company had a trading volume of 7,410 shares, compared to its average volume of 15,240. Saga Communications, Inc. has a 12-month low of $10.75 and a 12-month high of $16.48. The firm has a market capitalization of $85.94 million, a price-to-earnings ratio of 24.25 and a beta of 0.29. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.03. The stock's fifty day simple moving average is $12.36 and its 200-day simple moving average is $12.04.

Saga Communications (NASDAQ:SGA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.08. Saga Communications had a return on equity of 2.09% and a net margin of 3.15%. The business had revenue of $24.21 million during the quarter, compared to analysts' expectations of $23.00 million. On average, sell-side analysts anticipate that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.50%. The ex-dividend date was Friday, June 6th. Saga Communications's dividend payout ratio (DPR) is presently 181.82%.

Insider Buying and Selling

In other 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 transaction of $121,895.76. Following the completion of the sale, the insider directly owned 927,125 shares of the company's stock, valued at approximately $11,793,030. The trade was a 1.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 28,000 shares of company stock worth $362,895. Insiders own 22.40% of the company's stock.

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.