Hoak Public Equities Amends Saga Communications Stake

TL;DR

Hoak Public Equities updated its 13D filing for SAGA. Watch for changes.

AI Summary

Hoak Public Equities, L.P. filed an amendment to its Schedule 13D on November 1, 2024, regarding its holdings in Saga Communications, Inc. The filing indicates a change in beneficial ownership, though specific new percentages or dollar amounts are not detailed in this excerpt. The amendment pertains to the Class A Common Stock of Saga Communications, Inc.

Why It Matters

This filing signals a potential shift in control or strategy for Saga Communications, Inc., which could impact its stock price and future operations.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or significant stake-building, which may lead to volatility.

Key Players & Entities

• Hoak Public Equities, L.P. (company) — Filing entity
• Saga Communications, Inc. (company) — Subject company
• J. Hale Hoak (person) — Group member
• James M. Hoak (person) — Group member

FAQ

Key Financial Figures

• $0.01 — ssuer) Class A Common Stock, par value $0.01 per share (Title of Class of Securiti
• $9,919,233.79 — the purchase of Common Stock by HPE was $9,919,233.79. All of the shares of Common Stock bene
• $14.60 — e Per Share 9/11/2024 Sell (6,245) $14.60 9/13/2024 Sell (49) $14.66 9/16/2
• $14.66 — 6,245) $14.60 9/13/2024 Sell (49) $14.66 9/16/2024 Sell (254) $14.51 9/16/2
• $14.51 — (49) $14.66 9/16/2024 Sell (254) $14.51 9/16/2024 Sell (3,884) $14.50 9/18
• $14.50 — 254) $14.51 9/16/2024 Sell (3,884) $14.50 9/18/2024 Sell (3,197) $15.01 9/25
• $15.01 — 884) $14.50 9/18/2024 Sell (3,197) $15.01 9/25/2024 Sell (8,615) $14.51 10/3
• $14.75 — 15) $14.51 10/30/2024 Sell (7,616) $14.75 10/31/2024 Sell (811) $14.27 11/0
• $14.27 — ,616) $14.75 10/31/2024 Sell (811) $14.27 11/01/2024 Sell (603) $14.01 9
• $14.01 — 811) $14.27 11/01/2024 Sell (603) $14.01 9

Filing Documents

• sga_sc13da-110124.htm (SC 13D/A) — 90KB
• ex99-1.htm (EX-99.1) — 12KB
• 0001839882-24-037149.txt ( ) — 104KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration.

is hereby amended and restated to read in its

Item 3 is hereby amended and restated to read in its entirety as follows: “The total amount of funds used for the purchase of Common Stock by HPE was $9,919,233.79. All of the shares of Common Stock beneficially owned by HPE were paid for using working capital of HPE. Hoak Management does not directly hold any Common Stock but may be deemed to beneficially own the Common Stock owned by HPE. The other Reporting Persons do not hold shares of Common Stock directly but may be deemed to beneficially own the Common Stock owned by HPE.”

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer.

(a) is hereby amended and restated in its entirety

Item 5(a) is hereby amended and restated in its entirety as follows: “ (a) As of the date of this Schedule 13D, based upon 6,261,481 shares of Common Stock outstanding (as disclosed on the Issuer’s Form 10-Q filed with the SEC on August 9, 2024): (a) HPE directly owns an aggregate of 351,502 shares of Common Stock, representing approximately 5.61% of the outstanding Common Stock; (b) Hoak Management, in its capacity as HPE’s general partner, may be deemed to beneficially own an aggregate of 351,502 shares of Common Stock, representing approximately 5.61% of the outstanding Common Stock; and (c) each of Hoak and Co. (in its capacity as the general partner of Hoak Management), James M. Hoak (in his capacity as Hoak & Co.’s controlling shareholder), and J. Hale Hoak (in his capacity as Hoak & Co.’s President) may be deemed to beneficially own an aggregate of 351,502 shares of Common Stock, representing approximately 5.61% of the outstanding Common Stock.”

(c) is hereby amended and restated in its entirety

Item 5(c) is hereby amended and restated in its entirety as follows: “ (c) Schedule A hereto sets forth all transactions in the Common Stock by any Reporting Person during the past sixty days. Except for the transactions set forth on Schedule A, none of the Reporting Persons effected any transaction during the past sixty days.”

Material to Be Filed as Exhibits

Item 7. Material to Be Filed as Exhibits 99.1 Joint Filing Agreement dated October 30, 2024, by and among Hoak Public Equities, L.P., Hoak Fund Management, L.P., Hoak & Co., James M. Hoak and J. Hale Hoak 7

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this Statement is true, complete and correct. Dated: November 1, 2024 Hoak Public Equities, L.P. Hoak Fund Management, L.P. By: Hoak Fund Management, L.P., its general partner By: Hoak & Co., its general partner By: Hoak & Co., its general partner By: /s/ J. Hale Hoak J. Hale Hoak By: /s/ J. Hale Hoak President J. Hale Hoak President Hoak & Co. James M. Hoak By: /s/ J. Hale Hoak By: /s/ James M. Hoak J. Hale Hoak James M. Hoak President J. Hale Hoak By: /s/ J. Hale Hoak J. Hale Hoak 8 Schedule A Transactions – Past 60 days Hoak Public Equities, L.P. Date Transaction Shares Price Per Share 9/11/2024 Sell (6,245) $14.60 9/13/2024 Sell (49) $14.66 9/16/2024 Sell (254) $14.51 9/16/2024 Sell (3,884) $14.50 9/18/2024 Sell (3,197) $15.01 9/25/2024 Sell (8,615) $14.51 10/30/2024 Sell (7,616) $14.75 10/31/2024 Sell (811) $14.27 11/01/2024 Sell (603) $14.01 9

View Full Filing

View this SC 13D/A filing on SEC EDGAR