Saga Communications (NASDAQ:SGA) Trading 0.5% Higher

Saga Communications, Inc. (NASDAQ:SGA) traded up 0.5% during trading on Thursday . The company traded as high as $15.86 and last traded at $15.43. 1,296 shares traded hands during trading, a decline of 94% from the average session volume of 21,654 shares. The stock had previously closed at $15.35.

Saga Communications Stock Up 0.5 %

The stock has a market cap of $96.59 million, a price-to-earnings ratio of 13.78 and a beta of 0.28. The company’s 50-day simple moving average is $18.54 and its 200-day simple moving average is $21.40.

Saga Communications (NASDAQ:SGA) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter. The business had revenue of $24.66 million during the quarter, compared to analyst estimates of $24.30 million. Saga Communications had a return on equity of 4.41% and a net margin of 6.25%. As a group, analysts expect that Saga Communications, Inc. will post 1.65 EPS for the current fiscal year.

Saga Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 3rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date was Monday, June 3rd. Saga Communications’s dividend payout ratio is 89.29%.

Hedge Funds Weigh In On Saga Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gate City Capital Management LLC acquired a new stake in shares of Saga Communications during the 4th quarter valued at $10,195,000. Acuitas Investments LLC boosted its stake in shares of Saga Communications by 18.9% during the 4th quarter. Acuitas Investments LLC now owns 123,392 shares of the company’s stock valued at $2,747,000 after buying an additional 19,650 shares during the period. Lokken Investment Group LLC acquired a new stake in shares of Saga Communications in the 4th quarter valued at $200,000. Citigroup Inc. acquired a new stake in shares of Saga Communications in the 3rd quarter valued at $50,000. Finally, Significant Wealth Partners LLC acquired a new stake in shares of Saga Communications in the 4th quarter valued at $1,180,000. Institutional investors and hedge funds 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.