Royce & Associates LP Sells 72,347 Shares of Saga Communications, Inc. (NASDAQ:SGA)

Royce & Associates LP decreased its position in Saga Communications, Inc. (NASDAQ:SGA) by 49.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,792 shares of the company’s stock after selling 72,347 shares during the quarter. Royce & Associates LP’s holdings in Saga Communications were worth $814,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SGA. Peapod Lane Capital LLC acquired a new stake in shares of Saga Communications in the 4th quarter valued at $1,675,000. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 2,986 shares during the last quarter. Empowered Funds LLC raised its holdings in Saga Communications by 4.6% during the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock worth $316,000 after purchasing an additional 1,247 shares during the last quarter. Finally, Krilogy Financial LLC bought a new stake in Saga Communications during the 4th quarter worth about $265,000. Institutional investors own 74.28% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Edward K. Christian Trust sold 5,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $12.56, for a total value of $62,800.00. Following the completion of the sale, the insider now owns 938,250 shares of the company’s stock, valued at approximately $11,784,420. This represents a 0.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Gate City Capital Management, acquired 240,609 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was bought at an average cost of $11.25 per share, with a total value of $2,706,851.25. Following the acquisition, the insider now owns 863,845 shares in the company, valued at $9,718,256.25. The trade was a 38.61 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 15,400 shares of company stock valued at $193,575 in the last quarter. 21.90% of the stock is currently owned by insiders.

Saga Communications Stock Performance

Shares of SGA stock opened at $12.60 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. The stock has a market cap of $78.89 million, a PE ratio of 17.50 and a beta of 0.27. The stock has a 50-day moving average of $12.07 and a 200-day moving average of $12.84. Saga Communications, Inc. has a one year low of $10.75 and a one year high of $23.56.

Saga Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were given a $0.25 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.00 annualized dividend and a dividend yield of 7.94%. Saga Communications’s dividend payout ratio is presently 181.82%.

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.