Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells $28,144.60 in Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 2,326 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $12.10, for a total value of $28,144.60. Following the completion of the sale, the insider now owns 962,280 shares in the company, valued at $11,643,588. This represents a 0.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 Friday, December 13th, Edward K. Christian Trust sold 543 shares of Saga Communications stock. The shares were sold at an average price of $12.92, for a total value of $7,015.56.

Saga Communications Stock Up 1.0 %

Shares of SGA opened at $12.53 on Friday. The company’s 50-day simple moving average is $11.99 and its 200-day simple moving average is $13.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. Saga Communications, Inc. has a 1 year low of $10.75 and a 1 year high of $24.70. The stock has a market capitalization of $78.45 million, a PE ratio of 17.40 and a beta of 0.26.

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 net margin of 4.24% and a return on equity of 3.22%. The company had revenue of $28.12 million during the quarter, compared to analysts’ expectations of $28.70 million. During the same quarter last year, the company posted $0.45 EPS. Analysts forecast that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 7.98%. Saga Communications’s dividend payout ratio (DPR) is 138.89%.

Hedge Funds Weigh In On Saga Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aristides Capital LLC raised its holdings in Saga Communications by 12.7% in the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after acquiring an additional 1,220 shares in the last quarter. Krilogy Financial LLC purchased a new stake in shares of Saga Communications in the 4th quarter valued at approximately $265,000. Marquette Asset Management LLC raised its holdings in shares of Saga Communications by 4.2% in the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after purchasing an additional 894 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Saga Communications by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Saga Communications by 5.9% in the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock valued at $771,000 after buying an additional 2,986 shares during the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Saga Communications Company Profile

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.