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

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 3,300 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $13.63, for a total value of $44,979.00. Following the transaction, the insider directly owned 905,403 shares of the company's stock, valued at $12,340,642.89. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Major 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 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 value 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 value 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 value 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 value of $40,729.50.
• 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 stock was 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.

Saga Communications Trading Up 0.7%

Shares of NASDAQ SGA traded up $0.09 during trading on Thursday, reaching $13.22. The company had a trading volume of 4,643 shares, compared to its average volume of 15,198. Saga Communications, Inc. has a 12 month low of $10.75 and a 12 month high of $16.48. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.03. The company's fifty day moving average price is $12.55 and its 200-day moving average price is $12.11. The stock has a market cap of $85.14 million, a P/E ratio of 24.04 and a beta of 0.29.

Saga Communications (NASDAQ:SGA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate 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. As a group, research analysts expect that Saga Communications, Inc. will post 0.23 earnings per share for the current year.

Saga Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors 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 annualized dividend and a dividend yield of 7.56%. Saga Communications's payout ratio is 181.82%.

Institutional Investors Weigh In On Saga Communications

Several institutional investors and hedge funds have recently made changes to their positions in the business. Gate City Capital Management LLC raised its stake in Saga Communications by 94.5% during the 4th quarter. Gate City Capital Management LLC now owns 863,845 shares of the company's stock worth $9,528,000 after buying an additional 419,714 shares during the period. Dimensional Fund Advisors LP raised its stake in Saga Communications by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company's stock worth $3,914,000 after buying an additional 1,770 shares during the period. Peapod Lane Capital LLC raised its stake in Saga Communications by 34.2% during the 1st quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company's stock worth $2,540,000 after buying an additional 51,884 shares during the period. Bridgeway Capital Management LLC raised its stake in 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 buying an additional 847 shares during the period. Finally, Geode Capital Management LLC raised its stake in Saga Communications by 8.9% during 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 period. Institutional investors own 74.28% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on Saga Communications in a research report on Tuesday, May 20th. They issued 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.