Krilogy Financial LLC Invests $265,000 in Saga Communications, Inc. (NASDAQ:SGA)

Krilogy Financial LLC bought a new position in Saga Communications, Inc. (NASDAQ:SGA) during the fourth quarter, Holdings Channel reports. The fund bought 24,000 shares of the company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aristides Capital LLC boosted its stake in Saga Communications by 12.7% in the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after purchasing an additional 1,220 shares in the last quarter. Marquette Asset Management LLC boosted its stake in Saga Communications by 4.2% in the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock worth $318,000 after purchasing an additional 894 shares in the last quarter. Empowered Funds LLC boosted its stake in Saga Communications by 5.1% in the 3rd 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. Geode Capital Management LLC boosted its stake in Saga Communications by 5.9% in the 3rd 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Saga Communications by 5.9% in the 2nd 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 in the last quarter. 74.28% of the stock is owned by hedge funds and other institutional investors.

Saga Communications Stock Performance

Shares of Saga Communications stock opened at $11.94 on Monday. The stock has a market cap of $74.74 million, a price-to-earnings ratio of 16.58 and a beta of 0.26. The firm’s 50-day moving average is $12.00 and its 200 day moving average is $13.78. Saga Communications, Inc. has a 1 year low of $10.75 and a 1 year high of $24.70. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.38%. The ex-dividend date of this dividend was Monday, November 25th. Saga Communications’s payout ratio is 138.89%.

Insider Buying and Selling

In related news, major shareholder Gate City Capital Management, bought 240,609 shares of the stock in a transaction on Tuesday, December 31st. The shares were acquired at an average price of $11.25 per share, for a total transaction of $2,706,851.25. Following the purchase, the insider now owns 863,845 shares of the company’s stock, valued at approximately $9,718,256.25. The trade was a 38.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 21.90% of the stock is currently owned by company insiders.

Saga Communications 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.