Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 2,326 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 2,326 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.10, for a total transaction of $28,144.60. Following the sale, the insider now owns 962,280 shares in the company, valued at $11,643,588. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares 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 stock was sold at an average price of $12.92, for a total transaction of $7,015.56.

Saga Communications Price Performance

Shares of SGA opened at $12.53 on Friday. The firm has a market capitalization of $78.44 million, a price-to-earnings ratio of 17.40 and a beta of 0.26. The firm’s fifty day simple moving average is $11.99 and its 200-day simple moving average is $13.69. Saga Communications, Inc. has a twelve month low of $10.75 and a twelve month high of $24.70. 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 (NASDAQ:SGA) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The company had revenue of $28.12 million for the quarter, compared to analysts’ expectations of $28.70 million. Saga Communications had a return on equity of 3.22% and a net margin of 4.24%. During the same period last year, the firm earned $0.45 earnings per share. Equities analysts forecast that Saga Communications, Inc. will post 0.23 EPS for the current fiscal year.

Saga Communications Announces Dividend

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

Hedge Funds Weigh In On Saga Communications

Hedge funds have recently added to or reduced their stakes in the stock. Aristides Capital LLC boosted its holdings in shares of Saga Communications by 12.7% in the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after buying an additional 1,220 shares in the last quarter. Krilogy Financial LLC purchased a new stake in Saga Communications in the fourth quarter valued at $265,000. Marquette Asset Management LLC boosted its stake in Saga Communications by 4.2% in the third quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after acquiring an additional 894 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Saga Communications by 5.1% during the third 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 position in shares of Saga Communications by 5.9% during the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after purchasing an additional 2,986 shares in the last quarter. 74.28% of the stock is currently owned by hedge funds and other institutional investors.

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.