Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Edward K. Christian Trust Sells 2,326 Shares

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 2,326 shares of Saga Communications stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $12.10, for a total transaction of $28,144.60. Following the transaction, the insider now directly owns 962,280 shares of the company’s stock, valued at approximately $11,643,588. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 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 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 transaction of $7,015.56.

Saga Communications Stock Up 0.2 %

Shares of SGA stock traded up $0.03 on Thursday, hitting $12.41. The stock had a trading volume of 11,354 shares, compared to its average volume of 22,025. Saga Communications, Inc. has a one year low of $10.75 and a one year high of $24.70. The business has a 50 day moving average price of $11.97 and a 200 day moving average price of $13.72. The company has a market cap of $77.69 million, a PE ratio of 17.24 and a beta of 0.26. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Saga Communications (NASDAQ:SGA) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.07. The firm had revenue of $28.12 million during the quarter, compared to analysts’ expectations of $28.70 million. Saga Communications had a net margin of 4.24% and a return on equity of 3.22%. During the same quarter in the prior year, the company earned $0.45 EPS. Research 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, December 13th. Stockholders of record on Monday, November 25th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.06%. Saga Communications’s dividend payout ratio is presently 138.89%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake 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 purchasing an additional 2,986 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Saga Communications by 5.9% in the 2nd quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock valued at $1,933,000 after purchasing an additional 6,800 shares during the last quarter. Krilogy Financial LLC acquired a new stake in Saga Communications in the 4th quarter worth approximately $265,000. Marquette Asset Management LLC grew its position in Saga Communications by 4.2% during the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock worth $318,000 after purchasing an additional 894 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Saga Communications by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock valued at $393,000 after purchasing an additional 1,340 shares in the last quarter. 74.28% of the stock is owned by institutional investors.

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.