Saga Communications (NASDAQ:SGA) Stock Price Up 0.5% Following Dividend Announcement

Saga Communications, Inc. (NASDAQ:SGA)’s share price rose 0.5% during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as $19.65 and last traded at $19.39. Approximately 13,961 shares traded hands during trading, a decline of 2% from the average daily volume of 14,260 shares. The stock had previously closed at $19.29.

The newly announced dividend which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a $0.25 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.14%. Saga Communications’s dividend payout ratio (DPR) is presently 89.29%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Saga Communications from a “buy” rating to a “hold” rating in a research report on Friday, January 26th.

Saga Communications Trading Up 0.3 %

The firm has a 50-day moving average of $21.95 and a 200 day moving average of $22.37. The company has a market cap of $121.76 million, a P/E ratio of 17.37 and a beta of 0.40.

Saga Communications (NASDAQ:SGA) last announced its earnings results on Thursday, May 9th. The company reported ($0.14) EPS for the quarter. Saga Communications had a net margin of 6.25% and a return on equity of 4.41%. The business had revenue of $24.66 million for the quarter, compared to the consensus estimate of $24.30 million. On average, equities analysts predict that Saga Communications, Inc. will post 1.65 EPS for the current year.

Institutional Investors Weigh In On Saga Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Acuitas Investments LLC raised its stake in Saga Communications by 18.9% during the 4th quarter. Acuitas Investments LLC now owns 123,392 shares of the company’s stock worth $2,747,000 after buying an additional 19,650 shares during the period. Citigroup Inc. acquired a new position in Saga Communications during the 3rd quarter worth approximately $50,000. Significant Wealth Partners LLC acquired a new position in Saga Communications during the 4th quarter worth approximately $1,180,000. Barclays PLC acquired a new position in Saga Communications during the 3rd quarter worth approximately $47,000. Finally, Arlington Trust Co LLC acquired a new position in Saga Communications during the 4th quarter worth approximately $45,000. Institutional investors own 74.28% of the company’s stock.

Saga Communications Company 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.