Edward K. Christian Trust Sells 1,750 Shares of Saga Communications, Inc. (NASDAQ:SGA) Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 1,750 shares of Saga Communications stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $12.75, for a total transaction of $22,312.50. Following the completion of the transaction, the insider now directly owns 943,250 shares of the company’s stock, valued at $12,026,437.50. This trade represents 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. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, February 5th, Edward K. Christian Trust sold 5,651 shares of Saga Communications stock. The stock was sold at an average price of $12.72, for a total transaction of $71,880.72.
• On Thursday, January 30th, Edward K. Christian Trust sold 106 shares of Saga Communications stock. The shares were sold at an average price of $12.52, for a total value of $1,327.12.
• On Tuesday, January 28th, Edward K. Christian Trust sold 15 shares of Saga Communications stock. The shares were sold at an average price of $12.50, for a total value of $187.50.
• On Thursday, January 23rd, Edward K. Christian Trust sold 552 shares of Saga Communications stock. The shares were sold at an average price of $12.54, for a total transaction of $6,922.08.
• On Tuesday, January 21st, Edward K. Christian Trust sold 2,326 shares of Saga Communications stock. The stock was sold at an average price of $12.10, for a total value of $28,144.60.
• On Friday, December 13th, Edward K. Christian Trust sold 543 shares of Saga Communications stock. The stock was sold at an average price of $12.92, for a total transaction of $7,015.56.

Saga Communications Stock Performance

SGA stock traded down $0.16 during midday trading on Tuesday, reaching $12.32. 11,917 shares of the company’s stock traded hands, compared to its average volume of 16,367. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. Saga Communications, Inc. has a 52-week low of $10.75 and a 52-week high of $24.70. The stock has a market cap of $77.12 million, a P/E ratio of 17.11 and a beta of 0.27. The stock’s 50-day moving average is $11.98 and its 200 day moving average is $13.47.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.00 dividend on an annualized basis and a yield of 8.12%. Saga Communications’s dividend payout ratio is currently 138.89%.

Institutional Trading of Saga Communications

Several hedge funds have recently bought and sold shares of SGA. Empowered Funds LLC lifted its position in shares of Saga Communications by 4.6% during the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock valued at $316,000 after buying an additional 1,247 shares in the last quarter. Geode Capital Management LLC raised its stake in Saga Communications by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after acquiring an additional 2,986 shares during the period. Krilogy Financial LLC bought a new position in shares of Saga Communications in the fourth quarter worth approximately $265,000. Finally, Peapod Lane Capital LLC purchased a new stake in shares of Saga Communications in the fourth quarter worth $1,675,000. 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.