Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells $71,880.72 in Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 5,651 shares of Saga Communications stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $12.72, for a total value of $71,880.72. Following the completion of the transaction, the insider now directly owns 945,000 shares in the company, valued at approximately $12,020,400. This represents a 0.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, January 30th, Edward K. Christian Trust sold 106 shares of Saga Communications stock. The shares were sold at an average price of $12.52, for a total value of $1,327.12.
• On Tuesday, January 28th, Edward K. Christian Trust sold 15 shares of Saga Communications stock. The stock was sold at an average price of $12.50, for a total value of $187.50.
• On Thursday, January 23rd, Edward K. Christian Trust sold 552 shares of Saga Communications stock. The stock was sold at an average price of $12.54, for a total value of $6,922.08.
• On Tuesday, January 21st, Edward K. Christian Trust sold 2,326 shares of Saga Communications stock. The shares were sold at an average price of $12.10, for a total value of $28,144.60.
• On Friday, December 13th, Edward K. Christian Trust sold 543 shares of Saga Communications stock. The stock was sold at an average price of $12.92, for a total value of $7,015.56.

Saga Communications Stock Up 0.2 %

Shares of SGA stock traded up $0.03 on Friday, hitting $12.84. 6,830 shares of the stock were exchanged, compared to its average volume of 16,762. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $80.39 million, a P/E ratio of 17.83 and a beta of 0.27. The business has a 50-day moving average of $11.97 and a 200 day moving average of $13.53. Saga Communications, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $24.70.

Saga Communications (NASDAQ:SGA) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Saga Communications had a return on equity of 3.22% and a net margin of 4.24%. The firm had revenue of $28.12 million during the quarter, compared to analysts’ expectations of $28.70 million. During the same period in the prior year, the firm posted $0.45 earnings per share. Equities 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 will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th will be given a $0.25 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.79%. Saga Communications’s payout ratio is 138.89%.

Hedge Funds Weigh In On Saga Communications

A number of large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of Saga Communications by 4.6% during the fourth quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock worth $316,000 after purchasing an additional 1,247 shares during the period. Geode Capital Management LLC increased its stake in shares of Saga Communications by 5.9% during the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after purchasing an additional 2,986 shares during the period. Krilogy Financial LLC bought a new position in shares of Saga Communications during the fourth quarter worth approximately $265,000. Finally, Peapod Lane Capital LLC bought a new position in shares of Saga Communications during the fourth quarter worth approximately $1,675,000. Institutional investors 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.