Saga Communications, Inc. (NYSEMKT:SGA) major shareholder Towerview Llc sold 413 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $46.20, for a total value of $19,080.60. Following the sale, the insider now owns 1,308,499 shares in the company, valued at $60,452,653.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Saga Communications, Inc. (NYSEMKT:SGA) opened at 46.15 on Monday. The firm has a market capitalization of $270.44 million, a price-to-earnings ratio of 18.53 and a beta of 1.55. Saga Communications, Inc. has a 1-year low of $35.77 and a 1-year high of $48.09. The company has a 50 day moving average price of $42.58 and a 200-day moving average price of $41.65.
Saga Communications (NYSEMKT:SGA) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.82 earnings per share (EPS) for the quarter. The company had revenue of $36.40 million for the quarter, compared to analysts’ expectations of $34.36 million. On average, analysts forecast that Saga Communications, Inc. will post $2.21 EPS 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 issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.20 annualized dividend and a dividend yield of 2.60%. This is a boost from Saga Communications’s previous quarterly dividend of $0.25. Saga Communications’s dividend payout ratio (DPR) is presently 40.00%.
Several hedge funds have recently added to or reduced their stakes in SGA. O Shaughnessy Asset Management LLC boosted its stake in Saga Communications by 702.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,881 shares of the company’s stock valued at $114,000 after buying an additional 2,522 shares during the last quarter. SG Americas Securities LLC boosted its stake in Saga Communications by 94.2% in the second quarter. SG Americas Securities LLC now owns 4,974 shares of the company’s stock valued at $197,000 after buying an additional 2,413 shares during the last quarter. Societe Generale acquired a new stake in Saga Communications during the second quarter valued at $197,000. Teachers Advisors Inc. boosted its stake in Saga Communications by 7.1% in the second quarter. Teachers Advisors Inc. now owns 5,524 shares of the company’s stock valued at $218,000 after buying an additional 366 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in Saga Communications by 13.5% in the second quarter. BlackRock Investment Management LLC now owns 15,477 shares of the company’s stock valued at $612,000 after buying an additional 1,839 shares during the last quarter.
SGA has been the topic of several research reports. JPMorgan Chase & Co. restated an “underweight” rating on shares of Saga Communications in a report on Wednesday, June 22nd. Beaufort Securities reaffirmed a “buy” rating on shares of Saga Communications in a research note on Wednesday, June 22nd.
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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