Saga Communications (NASDAQ:SGA) Major Shareholder Sells $20,862.50 in Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 1,669 shares of the firm’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $12.50, for a total value of $20,862.50. Following the completion of the transaction, the insider directly owned 886,709 shares in the company, valued at $11,083,862.50. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major 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, October 16th, Edward K. Christian Trust sold 761 shares of Saga Communications stock. The stock was sold at an average price of $12.51, for a total value of $9,520.11.
• On Wednesday, October 15th, Edward K. Christian Trust sold 682 shares of Saga Communications stock. The stock was sold at an average price of $12.56, for a total value of $8,565.92.
• On Tuesday, October 14th, Edward K. Christian Trust sold 748 shares of Saga Communications stock. The stock was sold at an average price of $12.51, for a total value 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 value of $13.03.
• On Tuesday, October 7th, Edward K. Christian Trust sold 10 shares of Saga Communications stock. The stock was sold at an average price of $13.00, for a total value of $130.00.
• On Monday, October 6th, Edward K. Christian Trust sold 629 shares of Saga Communications stock. The stock was sold at an average price of $13.04, for a total value 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 value 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 value of $3,953.16.
• On Friday, September 19th, Edward K. Christian Trust sold 581 shares of Saga Communications stock. The shares were sold at an average price of $12.63, for a total value of $7,338.03.
• On Monday, August 25th, Edward K. Christian Trust sold 1,054 shares of Saga Communications stock. The shares were sold at an average price of $13.34, for a total value of $14,060.36.

Saga Communications Stock Up 0.6%

Saga Communications stock opened at $12.63 on Friday. 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 business’s 50-day simple moving average is $12.48 and its two-hundred day simple moving average is $12.43. The company has a market cap of $81.31 million, a PE ratio of 38.26 and a beta of 0.31. 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 posted its quarterly 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 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 analysts anticipate that Saga Communications, Inc. will post 0.23 EPS for the current year.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, August 26th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend was Tuesday, August 26th. Saga Communications’s dividend payout ratio (DPR) is 303.03%.

Hedge Funds Weigh In On Saga Communications

Several hedge funds and other institutional investors have recently made changes to their positions in SGA. Osaic Holdings Inc. lifted its position in shares of Saga Communications by 256.7% in the second quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock valued at $52,000 after acquiring an additional 2,867 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Saga Communications by 6.2% in the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock valued at $379,000 after purchasing an additional 1,769 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Saga Communications in the first quarter valued at approximately $529,000. Mork Capital Management LLC increased its holdings in shares of Saga Communications by 100.0% in the first quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock valued at $624,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Peapod Lane Capital LLC increased its holdings in shares of Saga Communications by 34.2% in the first quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company’s stock valued at $2,540,000 after purchasing an additional 51,884 shares during the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Saga Communications in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

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.