Martin & Co. Inc. TN Has $489,000 Stake in Saga Communications, Inc. (NASDAQ:SGA)

Martin & Co. Inc. TN trimmed its stake in Saga Communications, Inc. (NASDAQ:SGA) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,331 shares of the company’s stock after selling 11,106 shares during the period. Martin & Co. Inc. TN’s holdings in Saga Communications were worth $489,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC boosted its position in Saga Communications by 5.9% during the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock valued at $771,000 after acquiring an additional 2,986 shares during the last quarter. Krilogy Financial LLC bought a new stake in Saga Communications during the fourth quarter valued at $265,000. Empowered Funds LLC boosted its position in Saga Communications by 5.1% during the third quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock valued at $393,000 after acquiring an additional 1,340 shares during the last quarter. Finally, Peapod Lane Capital LLC bought a new stake in Saga Communications during the fourth quarter valued at $1,675,000. 74.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Saga Communications

In other news, major shareholder Edward K. Christian Trust sold 2,326 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.10, for a total transaction of $28,144.60. Following the transaction, the insider now owns 962,280 shares of the company’s stock, valued at $11,643,588. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Gate City Capital Management, purchased 240,609 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was acquired at an average cost of $11.25 per share, for a total transaction of $2,706,851.25. Following the transaction, the insider now owns 863,845 shares in the company, valued at $9,718,256.25. This represents a 38.61 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 10,943 shares of company stock valued at $137,790 in the last 90 days. 21.90% of the stock is currently owned by corporate insiders.

Saga Communications Price Performance

SGA stock opened at $12.61 on Monday. The stock has a market capitalization of $78.94 million, a PE ratio of 17.51 and a beta of 0.27. The company’s 50-day moving average is $12.01 and its 200-day moving average is $13.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. Saga Communications, Inc. has a 1 year low of $10.75 and a 1 year high of $24.70.

Saga Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.93%. Saga Communications’s dividend payout ratio (DPR) is presently 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.