Saga Communications (NASDAQ:SGA) Announces Quarterly Earnings Results

Saga Communications (NASDAQ:SGA) posted its earnings results on Tuesday. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.27, Zacks reports. Saga Communications had a net margin of 4.24% and a return on equity of 3.22%.

Saga Communications Trading Up 3.9 %

Shares of NASDAQ:SGA traded up $0.43 during trading on Tuesday, hitting $11.54. The company had a trading volume of 479 shares, compared to its average volume of 16,986. The stock has a market cap of $72.25 million, a price-to-earnings ratio of 15.85 and a beta of 0.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. The company has a fifty day simple moving average of $11.92 and a two-hundred day simple moving average of $12.98. Saga Communications has a one year low of $10.75 and a one year high of $23.95.

Saga Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.00 dividend on an annualized basis and a yield of 8.67%. Saga Communications’s dividend payout ratio (DPR) is presently 138.89%.

Insider Activity at Saga Communications

In related news, major shareholder Edward K. Christian Trust sold 5,651 shares of Saga Communications stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $12.72, for a total value of $71,880.72. Following the completion of the sale, the insider now directly owns 945,000 shares in the company, valued at $12,020,400. The trade was a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Gate City Capital Management, acquired 240,609 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was acquired at an average cost of $11.25 per share, with a total value of $2,706,851.25. Following the completion of the purchase, the insider now owns 863,845 shares of the company’s stock, valued at $9,718,256.25. This trade represents a 38.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 15,943 shares of company stock worth $200,590. Company insiders own 21.90% 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.