Saga Communications (NASDAQ:SGA) Trading 2.5% Higher – Still a Buy?

Shares of Saga Communications, Inc. (NASDAQ:SGA) shot up 2.5% on Tuesday . The stock traded as high as $11.93 and last traded at $11.65. 30,269 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 25,942 shares. The stock had previously closed at $11.37.

Saga Communications Stock Performance

The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $72.94 million, a P/E ratio of 16.18 and a beta of 0.26. The business has a fifty day moving average price of $12.36 and a 200-day moving average price of $13.99.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.58%. The ex-dividend date of this dividend was Monday, November 25th. Saga Communications’s dividend payout ratio is currently 138.89%.

Institutional Investors Weigh In On Saga Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in shares of Saga Communications by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock valued at $5,691,000 after purchasing an additional 4,015 shares during the last quarter. Renaissance Technologies LLC grew its position in Saga Communications by 5.9% during the second quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock valued at $1,933,000 after buying an additional 6,800 shares during the period. 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 worth $771,000 after acquiring an additional 2,986 shares during the period. Empowered Funds LLC boosted its stake in shares of Saga Communications by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after acquiring an additional 1,340 shares during the last quarter. Finally, Marquette Asset Management LLC grew its position in shares of Saga Communications by 4.2% during the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after acquiring an additional 894 shares during the period. Hedge funds and other institutional investors own 74.28% of the company’s stock.

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.