Saga Communications (NASDAQ:SGA) Major Shareholder Edward K. Christian Trust Sells 1,669 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 1,669 shares of the business’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $12.50, for a total transaction of $20,862.50. Following the sale, the insider directly owned 886,709 shares of the company’s stock, valued at approximately $11,083,862.50. The trade was a 0.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% 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, October 16th, Edward K. Christian Trust sold 761 shares of Saga Communications stock. The shares were sold at an average price of $12.51, for a total transaction of $9,520.11.
• On Wednesday, October 15th, Edward K. Christian Trust sold 682 shares of Saga Communications stock. The shares were sold at an average price of $12.56, for a total transaction of $8,565.92.
• On Tuesday, October 14th, Edward K. Christian Trust sold 748 shares of Saga Communications stock. The shares were sold at an average price of $12.51, for a total transaction of $9,357.48.
• On Wednesday, October 8th, Edward K. Christian Trust sold 1 shares of Saga Communications stock. The shares were sold at an average price of $13.03, for a total transaction of $13.03.
• On Tuesday, October 7th, Edward K. Christian Trust sold 10 shares of Saga Communications stock. The shares were sold at an average price of $13.00, for a total transaction of $130.00.
• On Monday, October 6th, Edward K. Christian Trust sold 629 shares of Saga Communications stock. The shares were sold at an average price of $13.04, for a total transaction of $8,202.16.
• On Tuesday, September 30th, Edward K. Christian Trust sold 48 shares of Saga Communications stock. The stock was sold at an average price of $12.57, for a total transaction of $603.36.
• On Friday, September 26th, Edward K. Christian Trust sold 316 shares of Saga Communications stock. The stock was sold at an average price of $12.51, for a total transaction of $3,953.16.
• On Friday, September 19th, Edward K. Christian Trust sold 581 shares of Saga Communications stock. The stock was sold at an average price of $12.63, for a total transaction of $7,338.03.
• On Monday, August 25th, Edward K. Christian Trust sold 1,054 shares of Saga Communications stock. The stock was sold at an average price of $13.34, for a total transaction of $14,060.36.

Saga Communications Trading Up 0.5%

Shares of Saga Communications stock opened at $12.56 on Friday. The company has a market capitalization of $80.89 million, a P/E ratio of 38.06 and a beta of 0.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.76 and a current ratio of 2.76. The company has a fifty day moving average of $12.49 and a 200 day moving average of $12.41. Saga Communications, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $15.10.

Saga Communications (NASDAQ:SGA) last issued its earnings results on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $28.23 million during the quarter, compared to the consensus estimate of $28.55 million. Saga Communications had a return on equity of 1.27% and a net margin of 1.91%. On average, sell-side analysts anticipate that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, August 26th were paid a $0.25 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 annualized dividend and a yield of 8.0%. Saga Communications’s payout ratio is presently 303.03%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Saga Communications in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Saga Communications

Hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its stake in Saga Communications by 256.7% in the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock worth $52,000 after purchasing an additional 2,867 shares in the last quarter. Empowered Funds LLC raised its position in shares of Saga Communications by 6.2% during the 1st quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock valued at $379,000 after buying an additional 1,769 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Saga Communications during the 1st quarter valued at about $529,000. Mork Capital Management LLC raised its position in shares of Saga Communications by 100.0% during the 1st quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock valued at $624,000 after buying an additional 25,000 shares in the last quarter. Finally, Peapod Lane Capital LLC raised its position in shares of Saga Communications by 34.2% during the 1st quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company’s stock valued at $2,540,000 after buying an additional 51,884 shares in the last quarter. Hedge funds and other 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.