SAGA COMMUNICATIONS INC SGA
CL A NEW · Common Stock · CUSIP 786598300
- SectorCommunication
- IndustryRadio Broadcasting Stations
- HeadquartersGrosse Pointe Farms, MI
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($326.3k this quarter). Holder counts are more reliable. Shares outstanding: 6.4m as of 2026-08-10, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $9.07.
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 30 |
| Q4 2022 | 35 |
| Q1 2023 | 37 |
| Q2 2023 | 39 |
| Q3 2023 | 38 |
| Q4 2023 | 46 |
| Q1 2024 | 44 |
| Q2 2024 | 43 |
| Q3 2024 | 38 |
| Q4 2024 | 39 |
| Q1 2025 | 32 |
| Q2 2025 | 32 |
| Q3 2025 | 27 |
| Q4 2025 | 27 |
| Q1 2026 | 29 |
| Q2 2026 | 29 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 13 | 17 |
| Q4 2024 | 16 | 15 |
| Q1 2025 | 8 | 16 |
| Q2 2025 | 11 | 10 |
| Q3 2025 | 5 | 16 |
| Q4 2025 | 9 | 15 |
| Q1 2026 | 13 | 5 |
| Q2 2026 | 14 | 8 |
Biggest buyers
| Marquette Asset Management, LLC | New | +28.4k |
| HRT FINANCIAL LP | New | +12.2k |
| LPL Financial LLC | Added | +7.0k |
| BlackRock, Inc. | Added | +3.7k |
| Peapod Lane Capital LLC | Added | +3.3k |
| VANGUARD CAPITAL MANAGEMENT LLC | Added | +2.5k |
| Tower Research Capital LLC (TRC) | Added | +858 |
| ROYAL BANK OF CANADA | New | +800 |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | Added | +400 |
| MORGAN STANLEY | Added | +284 |
Biggest sellers
| DIMENSIONAL FUND ADVISORS LP | Reduced | -20.4k |
| GOLDMAN SACHS GROUP INC | Sold out | -12.2k |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -7.5k |
| NORTHERN TRUST CORP | Reduced | -2.7k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -526 |
| OSAIC HOLDINGS, INC. | Reduced | -110 |
| CITIGROUP INC | Sold out | -1 |
| Lloyd Advisory Services, LLC. | Sold out | 0 |
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Edward K. Christian Trust 13G · passive investor +0.1 pts · filed 2026-05-15 | 13.9% |
GATE CITY CAPITAL MANAGEMENT, LLC
13D · may seek influence
no change · filed 2025-03-27
Stated purposeThis Amendment No. 3 amends the Schedule 13D initially filed on January 8, 2025 and subsequently amended on March 5, 2025 and March 14, 2025. On March 26, 2025, Gate City Capital Management ("Gate City") sent the letter attached as Exhibit D (the "Withdrawal Letter") to Saga Communications, Inc. ("Saga" or the "Company"). The Withdrawal Letter sets forth Gate City's intention to withdraw its nominees for election at the Company's 2025 Annual Meeting. Additionally, on March 26, 2025, Gate City sent the letter attached as Exhibit E (the "March Letter") to the Company. The March Letter highlights Gate City's continued concerns that the Company's pursuit of a digital transformation continues to have an adverse impact on the Company's financial results, operations, liquidity and share price.… Full filing |
13.8% |
| Kesselman Stanley 13G · passive investor filed 2026-01-07 | 6.2% |
Fell to 5% or below in the last year: DIMENSIONAL FUND ADVISORS LP (4.7%, 2026-10-08)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| TOWERVIEW LLC 6.91% of their portfolio | 1.2m $10.5m | Unchanged |
| GATE CITY CAPITAL MANAGEMENT, LLC 2.03% of their portfolio | 863.8k $7.8m | Unchanged |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 330.3k $3.0m | Reduced -20.4k |
| Peapod Lane Capital LLC 1.28% of their portfolio | 209.9k $1.9m | Added +3.3k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 188.7k $1.7m | Added +2.5k |
| BlackRock, Inc. 0.00% of their portfolio | 133.0k $1.2m | Added +3.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 105.9k $960.7k | Reduced -526 |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 72.0k $652.7k | Added +400 |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 64.6k $586.1k | Reduced -7.5k |
| Mork Capital Management, LLC 0.29% of their portfolio | 50.0k $453.5k | Unchanged |
| Nuveen, LLC 0.00% of their portfolio | 42.4k $384.5k | Unchanged |
| Empowered Funds, LLC 0.00% of their portfolio | 36.0k $326.3k | Unchanged |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 34.8k $315.3k | Added +211 |
| LPL Financial LLC 0.00% of their portfolio | 30.1k $273.5k | Added +7.0k |
| Marquette Asset Management, LLC 0.03% of their portfolio | 28.4k $257.2k | New |
| STATE STREET CORP 0.00% of their portfolio | 22.1k $200.4k | Unchanged |
| HRT FINANCIAL LP 0.00% of their portfolio | 12.2k $110.0k | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 10.8k $97.7k | Reduced -2.7k |
| MORGAN STANLEY 0.00% of their portfolio | 9.9k $90.0k | Added +284 |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 1.8k $16.0k | Unchanged |
| BARCLAYS PLC 0.00% of their portfolio | 1.2k $10.4k | Added +22 |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 873 $7.9k | Added +858 |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 800 $7.0k | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 100 $907 | Reduced -110 |
| IFS Advisors, LLC 0.00% of their portfolio | 100 $907 | Unchanged |
| UBS Group AG 0.00% of their portfolio | 42 $381 | Added +30 |
| SBI Securities Co., Ltd. 0.00% of their portfolio | 17 $154 | Added +12 |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 5 $44 | Unchanged |
| Kingdom Financial Group LLC. 0.00% of their portfolio | 0 $4 | Unchanged |