American International Group Inc. raised its stake in shares of Saga Communications, Inc. (NYSEMKT:SGA) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,248 shares of the company’s stock after buying an additional 147 shares during the period. American International Group Inc.’s holdings in Saga Communications were worth $115,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. State Street Corp raised its position in shares of Saga Communications by 3.3% in the fourth quarter. State Street Corp now owns 57,299 shares of the company’s stock worth $2,882,000 after buying an additional 1,810 shares during the last quarter. WCM Investment Management CA raised its position in shares of Saga Communications by 1.8% in the first quarter. WCM Investment Management CA now owns 43,875 shares of the company’s stock worth $2,240,000 after buying an additional 795 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Saga Communications by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 38,501 shares of the company’s stock worth $1,966,000 after buying an additional 1,860 shares during the last quarter. Bowling Portfolio Management LLC purchased a new position in shares of Saga Communications during the first quarter worth about $734,000. Finally, Martingale Asset Management L P raised its position in shares of Saga Communications by 88.5% in the first quarter. Martingale Asset Management L P now owns 9,801 shares of the company’s stock worth $501,000 after buying an additional 4,601 shares during the last quarter.

Saga Communications, Inc. (NYSEMKT SGA) opened at 39.85 on Thursday. The firm’s 50-day moving average price is $43.10 and its 200-day moving average price is $48.36. Saga Communications, Inc. has a 52 week low of $37.75 and a 52 week high of $52.05. The company has a market capitalization of $235.43 million, a price-to-earnings ratio of 13.97 and a beta of 1.55.

Saga Communications (NYSEMKT:SGA) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.57 earnings per share for the quarter. Saga Communications had a net margin of 6.17% and a return on equity of 5.64%. The firm had revenue of $30.26 million during the quarter. On average, equities analysts expect that Saga Communications, Inc. will post $2.21 earnings per share for the current year.

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A number of equities analysts have issued reports on SGA shares. ValuEngine lowered Saga Communications from a “buy” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub lowered Saga Communications from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 8th.

In other Saga Communications news, CFO Samuel D. Bush sold 1,574 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $49.00, for a total transaction of $77,126.00. Following the completion of the sale, the chief financial officer now owns 17,864 shares in the company, valued at approximately $875,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catherine A. Bobinski sold 597 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $49.15, for a total transaction of $29,342.55. Following the sale, the vice president now owns 9,960 shares of the company’s stock, valued at approximately $489,534. The disclosure for this sale can be found here. Insiders sold a total of 9,117 shares of company stock valued at $448,079 in the last 90 days.

Saga Communications Company Profile

Saga Communications, Inc is a broadcast company engaged in acquiring, developing and operating broadcast properties. The Company’s segments are Radio, Television, and Corporate and Other. As of February 28, 2017, it owned and/or operated four television stations and five low-power television (LPTV) stations serving two markets, and 68 frequency modulation (FM) and 32 amplitude modulation (AM) radio stations serving 24 markets, including Bellingham, Washington; Columbus, Ohio; Norfolk, Virginia; Milwaukee, Wisconsin; Manchester, New Hampshire; Des Moines, Iowa, and Joplin, Missouri.

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Institutional Ownership by Quarter for Saga Communications (NYSEMKT:SGA)

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