Peapod Lane Capital LLC Buys Shares of 151,823 Saga Communications, Inc. (NASDAQ:SGA)

by · The Markets Daily

Peapod Lane Capital LLC purchased a new position in Saga Communications, Inc. (NASDAQ:SGA – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 151,823 shares of the company’s stock, valued at approximately $1,675,000. Saga Communications comprises about 1.7% of Peapod Lane Capital LLC’s holdings, making the stock its 25th largest holding. Peapod Lane Capital LLC owned about 2.43% of Saga Communications at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SGA. Krilogy Financial LLC purchased a new position in Saga Communications in the fourth quarter worth $265,000. Empowered Funds LLC raised its position in Saga Communications by 4.6% during the fourth quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock valued at $316,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Saga Communications by 5.9% during 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 last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Saga Communications Price Performance

SGA opened at $12.40 on Thursday. The stock has a market capitalization of $77.62 million, a P/E ratio of 17.22 and a beta of 0.27. 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, Inc. has a 12-month low of $10.75 and a 12-month high of $24.70. The stock has a 50-day moving average price of $11.98 and a 200-day moving average price of $13.45.

Saga Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.06%. The ex-dividend date of this dividend is Tuesday, February 18th. Saga Communications’s payout ratio is currently 138.89%.

Insider Buying and Selling at Saga Communications

In other news, major shareholder Edward K. Christian Trust sold 5,651 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $12.72, for a total value of $71,880.72. Following the completion of the sale, the insider now owns 945,000 shares of the company’s stock, valued at approximately $12,020,400. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Gate City Capital Management, bought 240,609 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were bought at an average price of $11.25 per share, with a total value of $2,706,851.25. Following the completion of the acquisition, the insider now directly owns 863,845 shares in the company, valued at $9,718,256.25. This trade represents a 38.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 10,943 shares of company stock worth $137,790 over the last ninety days. Insiders own 21.90% of the company’s stock.

About Saga Communications

(Free Report)

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.

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