Geode Capital Management LLC Has $771,000 Stock Position in Saga Communications, Inc. (NASDAQ:SGA)

Geode Capital Management LLC grew its position in Saga Communications, Inc. (NASDAQ:SGA) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 53,679 shares of the company’s stock after acquiring an additional 2,986 shares during the quarter. Geode Capital Management LLC’s holdings in Saga Communications were worth $771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SGA. Empowered Funds LLC increased its holdings in Saga Communications by 5.1% in the third quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after buying an additional 1,340 shares during the last quarter. Marquette Asset Management LLC lifted its stake in shares of Saga Communications by 4.2% in the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after purchasing an additional 894 shares during the last quarter. Aristides Capital LLC boosted its stake in shares of Saga Communications by 12.7% during the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after acquiring an additional 1,220 shares in the last quarter. Renaissance Technologies LLC boosted 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 worth $1,933,000 after purchasing an additional 6,800 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Saga Communications by 1.1% during the second 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. 74.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Saga Communications

In other Saga Communications news, major shareholder Gate City Capital Management, purchased 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, for a total transaction of $2,706,851.25. Following the completion of the acquisition, the insider now directly owns 863,845 shares in the company, valued at $9,718,256.25. This represents a 38.61 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 21.90% of the company’s stock.

Saga Communications Trading Down 0.4 %

NASDAQ:SGA opened at $11.50 on Friday. 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 company’s 50 day moving average is $12.21 and its 200-day moving average is $13.92. The firm has a market cap of $72.00 million, a price-to-earnings ratio of 15.97 and a beta of 0.26. Saga Communications, Inc. has a 12 month low of $10.75 and a 12 month high of $24.70.

Saga Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date was Monday, November 25th. Saga Communications’s dividend payout ratio (DPR) is 138.89%.

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.