Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells $28,144.60 in Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 2,326 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.10, for a total transaction of $28,144.60. Following the sale, the insider now directly owns 962,280 shares in the company, valued at approximately $11,643,588. The trade was a 0.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Edward K. Christian Trust also recently made the following trade(s):

• On Friday, December 13th, Edward K. Christian Trust sold 543 shares of Saga Communications stock. The shares were sold at an average price of $12.92, for a total transaction of $7,015.56.

Saga Communications Price Performance

Shares of SGA opened at $12.53 on Friday. The firm has a fifty day moving average price of $11.99 and a 200 day moving average price of $13.68. The stock has a market cap of $78.45 million, a PE ratio of 17.40 and a beta of 0.26. Saga Communications, Inc. has a 1-year low of $10.75 and a 1-year high of $24.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64.

Saga Communications (NASDAQ:SGA) last posted its earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The business had revenue of $28.12 million during the quarter, compared to the consensus estimate of $28.70 million. Saga Communications had a return on equity of 3.22% and a net margin of 4.24%. During the same period in the previous year, the business earned $0.45 EPS. As a group, sell-side analysts anticipate that Saga Communications, Inc. will post 0.23 EPS for the current year.

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.98%. The ex-dividend date was Monday, November 25th. Saga Communications’s payout ratio is currently 138.89%.

Hedge Funds Weigh In On Saga Communications

Institutional investors have recently added to or reduced their stakes in the stock. Aristides Capital LLC raised its stake in shares of Saga Communications by 12.7% during the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after purchasing an additional 1,220 shares during the last quarter. Krilogy Financial LLC acquired a new position in Saga Communications in the 4th quarter valued at $265,000. Marquette Asset Management LLC raised its position in Saga Communications by 4.2% during the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock worth $318,000 after buying an additional 894 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Saga Communications by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after acquiring an additional 1,340 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Saga Communications by 5.9% in the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock valued at $771,000 after acquiring an additional 2,986 shares in the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.

About Saga Communications

Saga Communications, Inc, a media company, engages in acquiring, developing, and operating broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, country, classic country, hot/soft/urban adult contemporary, oldies, classic rock, rock, and news/talk.