Saga Communications (NASDAQ:SGA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Saga Communications (NASDAQ:SGA - Free Report) in a report released on Saturday. The brokerage issued a hold rating on the stock.

Saga Communications Stock Performance

Shares of Saga Communications stock remained flat at $11.35 on Friday. 1,739 shares of the stock were exchanged, compared to its average volume of 16,949. Saga Communications has a twelve month low of $10.75 and a twelve month high of $23.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. The stock's fifty day simple moving average is $11.75 and its two-hundred day simple moving average is $12.29. The firm has a market capitalization of $73.12 million, a price-to-earnings ratio of 15.76 and a beta of 0.21.

Saga Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.00 annualized dividend and a yield of 8.81%. Saga Communications's payout ratio is currently 181.82%.

Insiders Place Their Bets

In other Saga Communications news, major shareholder Edward K. Christian Trust sold 5,000 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $12.56, for a total value of $62,800.00. Following the sale, the insider now owns 938,250 shares of the company's stock, valued at $11,784,420. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 12,434 shares of company stock worth $157,411. 21.90% of the stock is owned by company insiders.

Institutional Trading of Saga Communications

Institutional investors and hedge funds have recently modified their holdings of the business. Peapod Lane Capital LLC lifted its stake in shares of Saga Communications by 34.2% during the first quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company's stock valued at $2,540,000 after buying an additional 51,884 shares during the period. Gate City Capital Management LLC lifted its stake in shares of Saga Communications by 94.5% during the fourth quarter. Gate City Capital Management LLC now owns 863,845 shares of the company's stock valued at $9,528,000 after buying an additional 419,714 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Saga Communications by 1.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company's stock valued at $861,000 after buying an additional 847 shares during the period. Jane Street Group LLC purchased a new position in shares of Saga Communications during the fourth quarter valued at approximately $115,000. Finally, Northern Trust Corp lifted its stake 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 valued at $153,000 after buying an additional 1,306 shares during the period. Hedge funds and other institutional investors own 74.28% 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.