Saga Communications, Inc. (NASDAQ:SGA) Position Raised by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Saga Communications, Inc. (NASDAQ:SGA) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,432 shares of the company’s stock after purchasing an additional 4,753 shares during the quarter. Geode Capital Management LLC owned about 0.93% of Saga Communications worth $645,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Krilogy Financial LLC acquired a new stake in shares of Saga Communications in the fourth quarter valued at $265,000. Empowered Funds LLC raised 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 worth $316,000 after acquiring an additional 1,247 shares in the last quarter. Finally, Peapod Lane Capital LLC acquired a new stake in Saga Communications in the 4th quarter valued at about $1,675,000. 74.28% of the stock is owned by institutional investors.

Saga Communications Price Performance

NASDAQ SGA opened at $11.65 on Friday. Saga Communications, Inc. has a 1 year low of $10.75 and a 1 year high of $23.56. The business’s fifty day moving average is $11.74 and its two-hundred day moving average is $12.25. The stock has a market capitalization of $75.02 million, a P/E ratio of 16.17 and a beta of 0.21. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.59%. The ex-dividend date was Tuesday, February 18th. Saga Communications’s dividend payout ratio is 181.82%.

Insider Activity

In related news, major shareholder Edward K. Christian Trust sold 5,651 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $12.72, for a total value of $71,880.72. Following the completion of the sale, the insider now owns 945,000 shares in the company, valued at approximately $12,020,400. This represents a 0.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 12,434 shares of company stock valued at $157,411 over the last three months. Insiders own 21.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Saga Communications in a research note on Friday. They issued a “hold” rating on the stock.

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.