Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells $12,929.93 in Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 1,027 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $12.59, for a total transaction of $12,929.93. Following the completion of the sale, the insider directly owned 897,159 shares in the company, valued at approximately $11,295,231.81. The trade was a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% 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 Thursday, July 31st, Edward K. Christian Trust sold 400 shares of Saga Communications stock. The stock was sold at an average price of $13.06, for a total transaction of $5,224.00.
• On Wednesday, July 30th, Edward K. Christian Trust sold 689 shares of Saga Communications stock. The stock was sold at an average price of $13.10, for a total transaction of $9,025.90.
• On Friday, July 25th, Edward K. Christian Trust sold 1,799 shares of Saga Communications stock. The stock was sold at an average price of $13.40, for a total transaction of $24,106.60.
• On Wednesday, July 23rd, Edward K. Christian Trust sold 608 shares of Saga Communications stock. The stock was sold at an average price of $13.02, for a total transaction of $7,916.16.
• On Tuesday, July 15th, Edward K. Christian Trust sold 704 shares of Saga Communications stock. The stock was sold at an average price of $13.55, for a total transaction of $9,539.20.
• On Tuesday, July 15th, Edward K. Christian Trust sold 704 shares of Saga Communications stock. The stock was sold at an average price of $13.55, for a total transaction of $9,539.20.
• On Monday, July 14th, Edward K. Christian Trust sold 3,017 shares of Saga Communications stock. The stock was sold at an average price of $13.50, for a total transaction of $40,729.50.
• On Monday, July 14th, Edward K. Christian Trust sold 3,017 shares of Saga Communications stock. The stock was sold at an average price of $13.50, for a total transaction of $40,729.50.
• On Friday, July 11th, Edward K. Christian Trust sold 3,300 shares of Saga Communications stock. The stock was sold at an average price of $13.63, for a total transaction of $44,979.00.
• On Wednesday, July 9th, Edward K. Christian Trust sold 5 shares of Saga Communications stock. The shares were sold at an average price of $13.50, for a total transaction of $67.50.

Saga Communications Price Performance

NASDAQ SGA opened at $12.96 on Thursday. The company has a quick ratio of 2.72, a current ratio of 2.76 and a debt-to-equity ratio of 0.03. Saga Communications, Inc. has a 12-month low of $10.75 and a 12-month high of $15.64. The company has a market capitalization of $83.46 million, a PE ratio of 39.27 and a beta of 0.32. The firm’s 50 day moving average is $12.89 and its 200-day moving average is $12.28.

Saga Communications (NASDAQ:SGA) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The company had revenue of $28.23 million for the quarter, compared to the consensus estimate of $28.55 million. Saga Communications had a return on equity of 1.27% and a net margin of 1.91%. Equities research analysts anticipate that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.7%. Saga Communications’s payout ratio is 303.03%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Gate City Capital Management LLC increased its stake in shares of Saga Communications by 94.5% in the fourth quarter. Gate City Capital Management LLC now owns 863,845 shares of the company’s stock valued at $9,528,000 after buying an additional 419,714 shares during the period. Peapod Lane Capital LLC boosted its holdings in 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 acquiring an additional 51,884 shares during the last quarter. Nuveen LLC bought a new stake in Saga Communications in the first quarter valued at approximately $529,000. Mork Capital Management LLC boosted its holdings in 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 acquiring an additional 25,000 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Saga Communications in the fourth quarter valued at approximately $115,000. Institutional investors and hedge funds own 74.28% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen assumed coverage on shares of Saga Communications in a research report on Tuesday, May 20th. They issued a “hold” rating on the stock.

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.