Saga Communications (NASDAQ:SGA) Trading Down 1.6% - Should You Sell?

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) fell 1.6% during trading on Tuesday . The stock traded as low as $11.40 and last traded at $11.41. 2,179 shares traded hands during trading, a decline of 87% from the average session volume of 16,969 shares. The stock had previously closed at $11.60.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Saga Communications in a report on Friday. They issued a "hold" rating on the stock.

Saga Communications Stock Performance

The stock has a 50 day simple moving average of $11.74 and a two-hundred day simple moving average of $12.23. The company has a market capitalization of $75.02 million, a price-to-earnings ratio of 16.17 and a beta of 0.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64.

Saga Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.59%. The ex-dividend date of this dividend was Tuesday, February 18th. 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 firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $12.72, for a total transaction of $71,880.72. Following the transaction, the insider now owns 945,000 shares of the company's stock, valued at approximately $12,020,400. This trade represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 12,434 shares of company stock worth $157,411 over the last three months. Insiders own 21.90% of the company's stock.

Institutional Trading of Saga Communications

A number of large investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC lifted its stake in Saga Communications by 1.1% in 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 last quarter. Empowered Funds LLC raised its position in Saga Communications by 4.6% in the 4th 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 during the last quarter. Northern Trust Corp boosted 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 purchasing an additional 1,306 shares during the period. Aristides Capital LLC boosted its stake in Saga Communications by 12.1% during the 4th quarter. Aristides Capital LLC now owns 12,160 shares of the company's stock worth $134,000 after purchasing an additional 1,310 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in 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 during the last quarter. 74.28% of the stock is 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.