Saga Communications (NASDAQ:SGA) Now Covered by Analysts at StockNews.com

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

Saga Communications Stock Down 0.5 %

Shares of SGA traded down $0.06 during trading hours on Friday, hitting $11.36. The company had a trading volume of 503 shares, compared to its average volume of 16,904. Saga Communications has a 52-week low of $10.75 and a 52-week high of $23.56. The firm has a fifty day moving average price of $11.76 and a 200-day moving average price of $12.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. The stock has a market capitalization of $73.15 million, a price-to-earnings ratio of 15.77 and a beta of 0.21.

Saga Communications Announces Dividend

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

Insider Buying and Selling at Saga Communications

In other Saga Communications news, major shareholder Edward K. Christian Trust sold 5,651 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $12.72, for a total transaction of $71,880.72. Following the completion of the sale, the insider now directly owns 945,000 shares in the company, valued at approximately $12,020,400. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 12,540 shares of company stock valued at $158,738 in the last three months. Company insiders own 21.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in shares of Saga Communications during the fourth quarter worth about $115,000. Aristides Capital LLC grew its holdings in 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 period. Northern Trust Corp grew its holdings in 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 period. Krilogy Financial LLC purchased a new stake in shares of Saga Communications in the fourth quarter valued at about $265,000. Finally, Empowered Funds LLC lifted its holdings in shares of Saga Communications by 4.6% in the fourth quarter. Empowered Funds LLC now owns 28,637 shares of the company's stock valued at $316,000 after purchasing an additional 1,247 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

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.