Saga Communications (NASDAQ:SGA) Major Shareholder Edward K. Christian Trust Sells 5,665 Shares

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 5,665 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $12.07, for a total value of $68,376.55. Following the transaction, the insider directly owned 881,044 shares in the company, valued at approximately $10,634,201.08. The trade was a 0.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saga Communications Trading Down 0.4%

NASDAQ SGA traded down $0.05 during trading on Friday, hitting $11.74. The stock had a trading volume of 4,815 shares, compared to its average volume of 10,836. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $75.61 million, a PE ratio of 234.80 and a beta of -0.02. The firm has a 50 day moving average price of $11.41 and a 200 day moving average price of $11.98. Saga Communications, Inc. has a twelve month low of $10.68 and a twelve month high of $14.27.

Saga Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Thursday, February 26th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a yield of 8.5%. Saga Communications’s dividend payout ratio is 2,000.00%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SGA. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Saga Communications in a research report on Thursday, January 22nd. Zacks Research raised Saga Communications from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Saga Communications by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 59,371 shares of the company’s stock worth $678,000 after acquiring an additional 1,923 shares in the last quarter. Empowered Funds LLC increased its stake in Saga Communications by 5.8% in the fourth quarter. Empowered Funds LLC now owns 33,851 shares of the company’s stock valued at $386,000 after purchasing an additional 1,850 shares during the last quarter. Bank of America Corp DE increased its stake in Saga Communications by 30,720.0% in the third quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock valued at $211,000 after purchasing an additional 16,896 shares during the last quarter. LPL Financial LLC acquired a new stake in Saga Communications during the fourth quarter worth approximately $163,000. Finally, Osaic Holdings Inc. raised its holdings in Saga Communications by 256.7% during the second 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. 74.28% of the stock is owned by institutional investors and hedge funds.

Saga Communications Company Profile

Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.

Founded in 1985 by Edward J.