Saga Communications (NASDAQ:SGA) Stock Price Down 5.3% – Time to Sell?

Shares of Saga Communications, Inc. (NASDAQ:SGA) dropped 5.3% during mid-day trading on Monday . The company traded as low as $12.01 and last traded at $12.06. Approximately 17,610 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 15,771 shares. The stock had previously closed at $12.73.

Saga Communications Stock Down 5.3 %

The business’s fifty day simple moving average is $13.25 and its 200 day simple moving average is $14.57. The stock has a market cap of $75.50 million, a price-to-earnings ratio of 16.75 and a beta of 0.23. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.29%. Saga Communications’s dividend payout ratio (DPR) is presently 138.89%.

Institutional Trading of Saga Communications

A number of institutional investors and hedge funds have recently modified their holdings of SGA. Dimensional Fund Advisors LP boosted its stake in Saga Communications by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock worth $5,691,000 after acquiring an additional 4,015 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Saga Communications by 5.9% in 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. Geode Capital Management LLC raised its holdings 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 purchasing an additional 2,986 shares during the period. Empowered Funds LLC boosted its position in shares of Saga Communications by 5.1% during the third quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Marquette Asset Management LLC grew its holdings 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 buying an additional 894 shares during the period. 74.28% of the stock is owned by institutional investors.

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.