California State Teachers Retirement System lowered its stake in Saga Communications, Inc. (NYSEMKT:SGA) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,594 shares of the company’s stock after selling 100 shares during the period. California State Teachers Retirement System owned 0.13% of Saga Communications worth $300,000 as of its most recent filing with the SEC.
Separately, Uniplan Investment Counsel Inc. boosted its stake in Saga Communications by 0.4% in the first quarter. Uniplan Investment Counsel Inc. now owns 117,429 shares of the company’s stock valued at $4,704,000 after buying an additional 424 shares during the period.
Saga Communications, Inc. (NYSEMKT:SGA) traded up 1.30% during midday trading on Tuesday, reaching $46.80. The company’s stock had a trading volume of 3,521 shares. The stock has a 50-day moving average price of $43.43 and a 200 day moving average price of $41.92. Saga Communications, Inc. has a 12 month low of $35.77 and a 12 month high of $48.09. The company has a market cap of $274.25 million, a PE ratio of 18.79 and a beta of 1.55.
Saga Communications (NYSEMKT:SGA) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.82 EPS for the quarter. The firm had revenue of $36.40 million for the quarter, compared to analysts’ expectations of $34.36 million. Analysts expect that Saga Communications, Inc. will post $2.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, September 12th. This is an increase from Saga Communications’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.60%. Saga Communications’s payout ratio is currently 40.00%.
SGA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of Saga Communications in a report on Wednesday, June 22nd. Beaufort Securities restated a “buy” rating on shares of Saga Communications in a report on Wednesday, June 22nd.
In other Saga Communications news, major shareholder Towerview Llc sold 2,587 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $46.32, for a total value of $119,829.84. Following the completion of the sale, the insider now directly owns 1,307,894 shares of the company’s stock, valued at $60,581,650.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Saga Communications Company Profile
Saga Communications, Inc is a broadcast company primarily engaged in acquiring, developing and operating broadcast properties. The Company owns and/or operates over four television stations and over five low-power television stations serving approximately two markets, and over 67 frequency modulation (FM) and 32 amplitude modulation (AM) radio stations serving approximately 20 markets, including Bellingham, Washington; Columbus, Ohio; Norfolk, Virginia; Milwaukee, Wisconsin; Manchester, New Hampshire; Des Moines, Iowa, and Joplin, Missouri.
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