Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 1,027 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 1,027 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $12.59, for a total value of $12,929.93. Following the transaction, the insider owned 897,159 shares in the company, valued at $11,295,231.81. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, July 31st, Edward K. Christian Trust sold 400 shares of Saga Communications stock. The stock was sold at an average price of $13.06, for a total value of $5,224.00.
• On Wednesday, July 30th, Edward K. Christian Trust sold 689 shares of Saga Communications stock. The stock was sold at an average price of $13.10, for a total value of $9,025.90.
• On Friday, July 25th, Edward K. Christian Trust sold 1,799 shares of Saga Communications stock. The stock was sold at an average price of $13.40, for a total value of $24,106.60.
• On Wednesday, July 23rd, Edward K. Christian Trust sold 608 shares of Saga Communications stock. The stock was sold at an average price of $13.02, for a total value of $7,916.16.
• On Tuesday, July 15th, Edward K. Christian Trust sold 704 shares of Saga Communications stock. The stock was sold at an average price of $13.55, for a total value of $9,539.20.
• On Tuesday, July 15th, Edward K. Christian Trust sold 704 shares of Saga Communications stock. The stock was sold at an average price of $13.55, for a total value of $9,539.20.
• On Monday, July 14th, Edward K. Christian Trust sold 3,017 shares of Saga Communications stock. The shares were sold at an average price of $13.50, for a total value of $40,729.50.
• On Monday, July 14th, Edward K. Christian Trust sold 3,017 shares of Saga Communications stock. The shares were sold at an average price of $13.50, for a total value of $40,729.50.
• On Friday, July 11th, Edward K. Christian Trust sold 3,300 shares of Saga Communications stock. The shares were sold at an average price of $13.63, for a total value of $44,979.00.
• On Wednesday, July 9th, Edward K. Christian Trust sold 5 shares of Saga Communications stock. The shares were sold at an average price of $13.50, for a total value of $67.50.

Saga Communications Trading Up 0.5%

Shares of Saga Communications stock opened at $12.96 on Thursday. Saga Communications, Inc. has a 1 year low of $10.75 and a 1 year high of $15.64. The firm has a market cap of $83.46 million, a PE ratio of 39.27 and a beta of 0.32. The stock has a fifty day moving average price of $12.89 and a 200-day moving average price of $12.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.76 and a quick ratio of 2.72.

Saga Communications (NASDAQ:SGA) last announced its earnings results on Thursday, August 7th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business had revenue of $28.23 million for the quarter, compared to analysts’ expectations of $28.55 million. Saga Communications had a net margin of 1.91% and a return on equity of 1.27%. Equities research analysts anticipate that Saga Communications, Inc. will post 0.23 EPS for the current year.

Saga Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.7%. Saga Communications’s payout ratio is 303.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SGA. Gate City Capital Management LLC boosted its stake in Saga Communications by 94.5% in the 4th quarter. Gate City Capital Management LLC now owns 863,845 shares of the company’s stock worth $9,528,000 after purchasing an additional 419,714 shares during the period. Dimensional Fund Advisors LP boosted its stake in Saga Communications by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company’s stock worth $3,914,000 after purchasing an additional 1,770 shares during the period. Peapod Lane Capital LLC boosted its stake in Saga Communications by 34.2% in the 1st quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company’s stock worth $2,540,000 after purchasing an additional 51,884 shares during the period. Bridgeway Capital Management LLC boosted its stake in Saga Communications by 1.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company’s stock worth $861,000 after purchasing an additional 847 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Saga Communications by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 58,432 shares of the company’s stock worth $645,000 after purchasing an additional 4,753 shares during the period. Institutional investors own 74.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on Saga Communications in a research report on Tuesday, May 20th. They set a “hold” rating for the company.

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.