Insider Buying: Saga Communications, Inc. (SGA) Major Shareholder Purchases 1,705 Shares of Stock

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Saga Communications, Inc. (NYSEAMERICAN:SGA) major shareholder Towerview Llc acquired 1,705 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was purchased at an average price of $28.44 per share, with a total value of $48,490.20. Following the completion of the transaction, the insider now owns 1,163,641 shares of the company’s stock, valued at $33,093,950.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

SGA stock traded down $1.36 during midday trading on Monday, reaching $28.60. The stock had a trading volume of 37,713 shares, compared to its average volume of 7,348. Saga Communications, Inc. has a twelve month low of $28.04 and a twelve month high of $39.60.

Saga Communications (NYSEAMERICAN:SGA) last announced its quarterly earnings data on Friday, May 10th. The company reported $0.23 EPS for the quarter. The firm had revenue of $27.82 million during the quarter.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Saga Communications by 1.9% in the fourth quarter. BlackRock Inc. now owns 299,782 shares of the company’s stock worth $9,961,000 after purchasing an additional 5,533 shares during the period. Renaissance Technologies LLC boosted its holdings in Saga Communications by 2.1% during the first quarter. Renaissance Technologies LLC now owns 145,707 shares of the company’s stock worth $4,836,000 after buying an additional 3,034 shares during the last quarter. Minerva Advisors LLC boosted its holdings in Saga Communications by 17.2% during the fourth quarter. Minerva Advisors LLC now owns 91,807 shares of the company’s stock worth $3,029,000 after buying an additional 13,498 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Saga Communications by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 35,018 shares of the company’s stock worth $1,163,000 after buying an additional 1,934 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new position in Saga Communications during the first quarter worth about $1,079,000.

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About Saga Communications

Saga Communications, Inc, a broadcast company, acquires, develops, and operates broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, adult hits, top 40, country, country legends, mainstream/hot/soft adult contemporary, pure oldies, classic rock, and news/talk.

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