Minerva Advisors LLC Has $2.50 Million Stake in Saga Communications, Inc. (NASDAQ:SGA)

Minerva Advisors LLC decreased its holdings in Saga Communications, Inc. (NASDAQ:SGA) by 1.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 226,688 shares of the company’s stock after selling 3,790 shares during the quarter. Saga Communications accounts for about 1.5% of Minerva Advisors LLC’s portfolio, making the stock its 19th largest holding. Minerva Advisors LLC owned approximately 3.62% of Saga Communications worth $2,498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in Saga Communications by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after purchasing an additional 2,986 shares in the last quarter. Krilogy Financial LLC acquired a new position in shares of Saga Communications in the 4th quarter valued at approximately $265,000. Empowered Funds LLC raised its position in shares of 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 buying an additional 1,247 shares in the last quarter. Finally, Peapod Lane Capital LLC acquired a new position in shares of Saga Communications in the 4th quarter valued at approximately $1,675,000. Institutional investors and hedge funds own 74.28% of the company’s stock.

Saga Communications Price Performance

Shares of NASDAQ:SGA opened at $11.69 on Tuesday. The firm has a 50 day moving average of $12.01 and a 200-day moving average of $13.26. The stock has a market capitalization of $73.19 million, a PE ratio of 16.24 and a beta of 0.27. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. Saga Communications, Inc. has a 12 month low of $10.75 and a 12 month high of $24.67.

Saga Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.55%. The ex-dividend date of this dividend is Tuesday, February 18th. Saga Communications’s payout ratio is presently 138.89%.

Insider Activity

In related news, major shareholder Gate City Capital Management, purchased 240,609 shares of the stock in a transaction dated Tuesday, December 31st. The stock was bought at an average cost of $11.25 per share, for a total transaction of $2,706,851.25. Following the completion of the acquisition, the insider now owns 863,845 shares of the company’s stock, valued at approximately $9,718,256.25. This represents a 38.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Edward K. Christian Trust sold 2,326 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $12.10, for a total value of $28,144.60. Following the completion of the transaction, the insider now owns 962,280 shares of the company’s stock, valued at $11,643,588. The trade was a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,943 shares of company stock worth $200,590. 21.90% of the stock is currently owned by corporate insiders.

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.