Saga Communications, Inc. (NASDAQ:SGA) Shares Acquired by Gate City Capital Management LLC

Gate City Capital Management LLC increased its position in shares of Saga Communications, Inc. (NASDAQ:SGA - Free Report) by 94.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 863,845 shares of the company's stock after buying an additional 419,714 shares during the quarter. Saga Communications accounts for about 5.7% of Gate City Capital Management LLC's portfolio, making the stock its 8th biggest holding. Gate City Capital Management LLC owned about 13.80% of Saga Communications worth $9,528,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Saga Communications by 5.9% in the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company's stock valued at $771,000 after acquiring an additional 2,986 shares during the last quarter. Krilogy Financial LLC bought a new position in Saga Communications in the fourth quarter valued at approximately $265,000. Empowered Funds LLC increased its position in shares of Saga Communications by 4.6% during the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company's stock worth $316,000 after purchasing an additional 1,247 shares during the last quarter. Peapod Lane Capital LLC bought a new stake in shares of Saga Communications during the 4th quarter worth approximately $1,675,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Saga Communications by 0.5% during the 4th 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. 74.28% of the stock is currently owned by institutional investors.

Saga Communications Stock Performance

Shares of Saga Communications stock traded up $0.04 during trading on Wednesday, hitting $12.01. 950 shares of the stock were exchanged, compared to its average volume of 16,677. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average price of $11.80 and a 200-day moving average price of $12.10. The stock has a market capitalization of $77.37 million, a price-to-earnings ratio of 16.68 and a beta of 0.22. Saga Communications, Inc. has a 1-year low of $10.75 and a 1-year high of $20.53.

Saga Communications (NASDAQ:SGA - Get Free Report) last announced its quarterly 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 return on equity of 3.22% and a net margin of 4.24%. The firm had revenue of $24.21 million for the quarter, compared to the consensus estimate of $23.00 million. As a group, equities analysts predict that Saga Communications, Inc. will post 0.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Saga Communications in a research note on Friday, May 9th. They issued a "hold" rating for the company.

Insider Buying and Selling

In related news, major shareholder Edward K. Christian Trust sold 5,000 shares of Saga Communications stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $12.56, for a total transaction of $62,800.00. Following the completion of the sale, the insider now owns 938,250 shares of the company's stock, valued at approximately $11,784,420. The trade was a 0.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 5,033 shares of company stock valued at $63,218. 22.40% of the stock is owned by insiders.

About Saga Communications

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.