Saga Communications, Inc. (NASDAQ:SGA) Shares Purchased by Peapod Lane Capital LLC

Peapod Lane Capital LLC increased its position in shares of Saga Communications, Inc. (NASDAQ:SGA - Free Report) by 34.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 portfolio, making the stock its 10th largest position. Peapod Lane Capital LLC owned about 3.16% of Saga Communications worth $2,540,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SGA. Jane Street Group LLC purchased a new position in Saga Communications during the fourth quarter worth approximately $115,000. Aristides Capital LLC boosted 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 buying an additional 1,310 shares during the period. Northern Trust Corp lifted its stake in shares of Saga Communications by 10.4% in the 4th 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 period. Geode Capital Management LLC grew its stake in shares of Saga Communications by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 58,432 shares of the company's stock worth $645,000 after purchasing an additional 4,753 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in Saga Communications by 1.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company's stock worth $861,000 after buying an additional 847 shares during the period. Hedge funds and other institutional investors own 74.28% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Saga Communications in a report on Tuesday, May 20th. They set a "hold" rating for the company.

Saga Communications Stock Performance

SGA traded up $0.08 on Wednesday, hitting $13.42. 4,182 shares of the stock traded hands, compared to its average volume of 15,270. 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 business has a fifty day moving average price of $12.31 and a two-hundred day moving average price of $12.03. The firm has a market capitalization of $86.42 million, a PE ratio of 24.25 and a beta of 0.29. Saga Communications, Inc. has a 52 week low of $10.75 and a 52 week high of $16.48.

Saga Communications (NASDAQ:SGA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, topping 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 company had revenue of $24.21 million during the quarter, compared to the consensus estimate of $23.00 million. On average, research analysts predict that Saga Communications, Inc. will post 0.23 EPS for the current fiscal year.

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.45%. The ex-dividend date was Friday, June 6th. Saga Communications's payout ratio is presently 181.82%.

Insiders Place Their Bets

In other news, major shareholder Edward K. Christian Trust sold 9,583 shares of the business's 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 sale, the insider owned 927,125 shares of the company's stock, valued at $11,793,030. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 28,000 shares of company stock valued at $362,895 over the last 90 days. 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.