Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Edward K. Christian Trust Sells 9,583 Shares

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 9,583 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $12.72, for a total value of $121,895.76. Following the sale, the insider now owns 927,125 shares of the company’s stock, valued at $11,793,030. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, April 3rd, Edward K. Christian Trust sold 3 shares of Saga Communications stock. The shares were sold at an average price of $12.65, for a total value of $37.95.
• On Tuesday, April 1st, Edward K. Christian Trust sold 30 shares of Saga Communications stock. The stock was sold at an average price of $12.66, for a total transaction of $379.80.

Saga Communications Stock Performance

SGA stock traded down $0.79 on Monday, reaching $12.06. 12,430 shares of the company were exchanged, compared to its average volume of 15,729. The firm has a market capitalization of $77.69 million, a PE ratio of 16.75 and a beta of 0.27. Saga Communications, Inc. has a 12 month low of $10.75 and a 12 month high of $17.27. The stock’s fifty day moving average price is $11.83 and its 200 day moving average price is $11.98. 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 quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.08. Saga Communications had a net margin of 4.24% and a return on equity of 3.22%. The company had revenue of $24.21 million for the quarter, compared to the consensus estimate of $23.00 million. On average, research analysts anticipate that Saga Communications, Inc. will post 0.23 EPS for the current fiscal year.

Saga Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.25 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.29%. Saga Communications’s dividend payout ratio is currently 181.82%.

Analyst Ratings Changes

Separately, Wall Street Zen began coverage on shares of Saga Communications in a research note on Tuesday, May 20th. They issued a “hold” rating on the stock.

Institutional Trading of Saga Communications

Several institutional investors have recently modified their holdings of SGA. Jane Street Group LLC acquired a new stake in shares of Saga Communications during the 4th quarter valued at about $115,000. Aristides Capital LLC grew its stake in shares of Saga Communications by 12.1% in the 4th quarter. Aristides Capital LLC now owns 12,160 shares of the company’s stock valued at $134,000 after purchasing an additional 1,310 shares during the period. Northern Trust Corp raised its holdings in shares of Saga Communications by 10.4% in the 4th quarter. Northern Trust Corp now owns 13,874 shares of the company’s stock worth $153,000 after buying an additional 1,306 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Saga Communications by 4.6% during the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock worth $316,000 after buying an additional 1,247 shares during the period. Finally, Nuveen LLC bought a new position in shares of Saga Communications during the 1st quarter worth approximately $529,000. 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.