Edward K. Christian Trust Sells 3,300 Shares of Saga Communications, Inc. (NASDAQ:SGA) Stock

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 3,300 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $13.63, for a total value of $44,979.00. Following the transaction, the insider owned 905,403 shares in the company, valued at approximately $12,340,642.89. This represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major 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 Wednesday, July 9th, Edward K. Christian Trust sold 5 shares of Saga Communications stock. The stock was sold at an average price of $13.50, for a total value of $67.50.
• On Thursday, July 3rd, Edward K. Christian Trust sold 5,300 shares of Saga Communications stock. The stock was sold at an average price of $13.21, for a total value of $70,013.00.
• On Tuesday, July 1st, Edward K. Christian Trust sold 6,269 shares of Saga Communications stock. The shares were sold at an average price of $13.05, for a total value of $81,810.45.
• On Friday, June 27th, Edward K. Christian Trust sold 1,990 shares of Saga Communications stock. The shares were sold at an average price of $12.89, for a total value of $25,651.10.
• On Wednesday, June 25th, Edward K. Christian Trust sold 4,400 shares of Saga Communications stock. The shares were sold at an average price of $13.12, for a total value of $57,728.00.
• On Tuesday, June 17th, Edward K. Christian Trust sold 33 shares of Saga Communications stock. The shares were sold at an average price of $12.51, for a total value of $412.83.
• On Monday, June 16th, Edward K. Christian Trust sold 50 shares of Saga Communications stock. The stock was sold at an average price of $12.50, for a total value of $625.00.
• On Thursday, June 12th, Edward K. Christian Trust sold 305 shares of Saga Communications stock. The stock was sold at an average price of $12.70, for a total value of $3,873.50.
• On Wednesday, June 11th, Edward K. Christian Trust sold 70 shares of Saga Communications stock. The stock was sold at an average price of $12.65, for a total value of $885.50.
• On Thursday, June 5th, Edward K. Christian Trust sold 9,583 shares of Saga Communications stock. The shares were sold at an average price of $12.72, for a total value of $121,895.76.

Saga Communications Stock Performance

Shares of SGA stock traded up $0.11 during trading on Monday, reaching $13.53. The company had a trading volume of 6,211 shares, compared to its average volume of 15,278. The firm's 50 day simple moving average is $12.44 and its two-hundred day simple moving average is $12.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.72 and a quick ratio of 2.72. Saga Communications, Inc. has a one year low of $10.75 and a one year high of $16.48. The company has a market capitalization of $87.13 million, a PE ratio of 24.60 and a beta of 0.29.

Saga Communications (NASDAQ:SGA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.08. Saga Communications had a return on equity of 2.09% and a net margin of 3.15%. The company had revenue of $24.21 million for the quarter, compared to analyst estimates of $23.00 million. Sell-side analysts forecast that Saga Communications, Inc. will post 0.23 earnings per share for the current year.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.39%. Saga Communications's payout ratio is 181.82%.

Institutional Trading of Saga Communications

Several institutional investors and hedge funds have recently modified their holdings of the business. Gate City Capital Management LLC raised 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. Dimensional Fund Advisors LP lifted its stake in shares of Saga Communications by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company's stock valued at $3,914,000 after acquiring an additional 1,770 shares during the last quarter. Peapod Lane Capital LLC raised its position in Saga Communications by 34.2% during the 1st quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company's stock valued at $2,540,000 after purchasing an additional 51,884 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Saga Communications by 1.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company's stock worth $861,000 after acquiring an additional 847 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Saga Communications by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 58,432 shares of the company's stock worth $645,000 after buying an additional 4,753 shares during the last quarter. 74.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on Saga Communications in a report on Tuesday, May 20th. They set a "hold" rating on the 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.

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