Jane Street Group LLC Purchases New Position in Saga Communications, Inc. (NASDAQ:SGA)

Jane Street Group LLC purchased a new stake in shares of Saga Communications, Inc. (NASDAQ:SGA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,458 shares of the company’s stock, valued at approximately $115,000. Jane Street Group LLC owned 0.17% of Saga Communications at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Peapod Lane Capital LLC purchased a new stake in Saga Communications in the fourth quarter worth about $1,675,000. Geode Capital Management LLC grew its holdings in Saga Communications by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 58,432 shares of the company’s stock worth $645,000 after purchasing an additional 4,753 shares during the period. Dimensional Fund Advisors LP grew its holdings in Saga Communications by 0.5% in the fourth 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 period. Aristides Capital LLC grew its holdings in Saga Communications by 12.1% in the fourth 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, Northern Trust Corp grew its holdings in Saga Communications by 10.4% in the fourth 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. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Saga Communications Price Performance

Shares of SGA opened at $12.85 on Friday. The stock has a market cap of $82.78 million, a PE ratio of 17.85 and a beta of 0.27. 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, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $17.27. The firm’s 50-day simple moving average is $11.83 and its two-hundred day simple moving average is $11.99.

Saga Communications (NASDAQ:SGA) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.08. Saga Communications had a net margin of 4.24% and a return on equity of 3.22%. The firm had revenue of $24.21 million for the quarter, compared to analysts’ expectations of $23.00 million. Analysts anticipate that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.78%. The ex-dividend date of this dividend is Friday, June 6th. Saga Communications’s payout ratio is 181.82%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen initiated coverage on shares of Saga Communications in a report on Tuesday, May 20th. They issued a “hold” rating on the stock.

About Saga Communications

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.