Saga Communications, Inc. (NASDAQ:SGA) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of Saga Communications, Inc. (NASDAQ:SGA) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,344 shares of the company’s stock after selling 21,693 shares during the quarter. Renaissance Technologies LLC owned approximately 1.84% of Saga Communications worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in 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 purchasing an additional 2,986 shares during the period. Krilogy Financial LLC purchased a new stake in Saga Communications in the 4th quarter valued at about $265,000. Empowered Funds LLC lifted its position in 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 buying an additional 1,247 shares during the last quarter. Peapod Lane Capital LLC purchased a new position in Saga Communications during the fourth quarter worth about $1,675,000. Finally, Aristides Capital LLC increased 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 valued at $134,000 after acquiring an additional 1,310 shares during the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Saga Communications Price Performance

SGA stock opened at $11.41 on Wednesday. The business’s fifty day moving average price is $11.76 and its 200 day moving average price is $12.29. Saga Communications, Inc. has a 12-month low of $10.75 and a 12-month high of $23.56. 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 market capitalization of $73.50 million, a PE ratio of 15.85 and a beta of 0.21.

Saga Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders 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 dividend yield of 8.76%. Saga Communications’s dividend payout ratio is presently 181.82%.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Saga Communications in a research report on Saturday. They set a “hold” rating for the company.

Insider Activity

In related news, major shareholder Edward K. Christian Trust sold 5,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $12.56, for a total transaction of $62,800.00. Following the completion of the transaction, the insider now directly owns 938,250 shares of the company’s stock, valued at $11,784,420. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 12,540 shares of company stock valued at $158,738. 21.90% of the stock is currently owned by company insiders.

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.