Saga Communications, Inc. (SGA) Plans Quarterly Dividend of $0.30
Saga Communications, Inc. (NYSEMKT:SGA) declared a quarterly dividend on Tuesday, November 22nd. Shareholders of record on Monday, December 5th will be paid a dividend of 0.30 per share on Friday, December 23rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Thursday, December 1st.
Shares of Saga Communications (NYSEMKT:SGA) traded up 0.21% during trading on Tuesday, reaching $48.70. The company’s stock had a trading volume of 4,098 shares. The firm’s 50-day moving average is $45.29 and its 200-day moving average is $42.75. The stock has a market capitalization of $285.38 million, a PE ratio of 16.90 and a beta of 1.55. Saga Communications has a 12-month low of $35.77 and a 12-month high of $48.95.
In related news, major shareholder Towerview Llc sold 4,491 shares of Saga Communications stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $48.12, for a total transaction of $216,106.92. Following the completion of the transaction, the insider now directly owns 1,290,478 shares in the company, valued at $62,097,801.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Hedge funds have recently bought and sold shares of the stock. BlackRock Advisors LLC boosted its stake in shares of Saga Communications by 12.7% in the third quarter. BlackRock Advisors LLC now owns 2,371 shares of the company’s stock valued at $108,000 after buying an additional 268 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of 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. Teachers Advisors Inc. boosted its stake in shares of 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. Rhumbline Advisers purchased a new stake in shares of Saga Communications during the third quarter valued at approximately $221,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Saga Communications by 78.8% in the third quarter. New York State Common Retirement Fund now owns 5,900 shares of the company’s stock valued at $268,000 after buying an additional 2,600 shares during the last quarter.
About Saga Communications
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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