Minerva Advisors LLC Sells 194,857 Shares of Saga Communications, Inc. $SGA

Minerva Advisors LLC lowered its position in shares of Saga Communications, Inc. (NASDAQ:SGA) by 86.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,831 shares of the company’s stock after selling 194,857 shares during the quarter. Minerva Advisors LLC owned approximately 0.49% of Saga Communications worth $364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Osaic Holdings Inc. raised its position in shares of Saga Communications by 256.7% during the second quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock worth $52,000 after acquiring an additional 2,867 shares during the last quarter. Bank of America Corp DE raised its position in shares of Saga Communications by 30,720.0% during the third quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock worth $211,000 after acquiring an additional 16,896 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Saga Communications by 6.2% during the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock worth $379,000 after acquiring an additional 1,769 shares during the last quarter. Institutional investors own 74.28% of the company’s stock.

Saga Communications Stock Performance

SGA stock opened at $9.58 on Tuesday. The company has a market cap of $60.93 million, a P/E ratio of -7.10 and a beta of -0.07. Saga Communications, Inc. has a twelve month low of $9.53 and a twelve month high of $14.27. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $11.23 and a 200-day moving average of $11.45.

Saga Communications (NASDAQ:SGA) last announced its quarterly earnings data on Thursday, March 12th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $1.23. Saga Communications had a positive return on equity of 3.88% and a negative net margin of 8.24%.The business had revenue of $26.51 million during the quarter, compared to analysts’ expectations of $27.70 million. As a group, equities research analysts expect that Saga Communications, Inc. will post -0.57 EPS for the current year.

Saga Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.4%. Saga Communications’s payout ratio is -74.07%.

Insider Activity at Saga Communications

In related news, major shareholder Edward K. Christian Trust sold 5,665 shares of Saga Communications stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.07, for a total transaction of $68,376.55. Following the completion of the sale, the insider directly owned 881,044 shares of the company’s stock, valued at $10,634,201.08. The trade was a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Noble Financial downgraded Saga Communications from a “strong-buy” rating to a “market perform” rating in a research report on Monday, May 11th. Weiss Ratings downgraded Saga Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Saga Communications Company Profile

Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.

Founded in 1985 by Edward J.