Edward K. Christian Trust Sells 5,300 Shares of Saga Communications, Inc. (NASDAQ:SGA) Stock

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 5,300 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $13.21, for a total value of $70,013.00. Following the completion of the transaction, the insider directly owned 908,708 shares of the company's stock, valued at $12,004,032.68. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's stock 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 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 transaction 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 transaction of $25,651.10.
• On Wednesday, June 25th, Edward K. Christian Trust sold 4,400 shares of Saga Communications stock. The stock was sold at an average price of $13.12, for a total transaction 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 shares were 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 Trading Up 0.5%

NASDAQ SGA traded up $0.07 during mid-day trading on Monday, reaching $13.27. 12,618 shares of the stock were exchanged, compared to its average volume of 15,306. Saga Communications, Inc. has a one year low of $10.75 and a one year high of $16.48. The stock has a 50 day simple moving average of $12.24 and a 200-day simple moving average of $12.01. The stock has a market cap of $85.46 million, a P/E ratio of 24.13 and a beta of 0.29. 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 (NASDAQ:SGA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.08. The firm had revenue of $24.21 million during the quarter, compared to the consensus estimate of $23.00 million. Saga Communications had a return on equity of 2.09% and a net margin of 3.15%. On average, analysts anticipate that Saga Communications, Inc. will post 0.23 EPS for the current year.

Saga Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 7.54%. Saga Communications's dividend payout ratio is currently 181.82%.

Institutional Investors Weigh In On Saga Communications

A number of hedge funds have recently added to or reduced their stakes in SGA. Gate City Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Saga Communications by 0.5% during 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 period. Peapod Lane Capital LLC boosted its stake in Saga Communications by 34.2% during the first quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company's stock worth $2,540,000 after acquiring an additional 51,884 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in Saga Communications by 1.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company's stock worth $861,000 after purchasing an additional 847 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Saga Communications by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 58,432 shares of the company's stock worth $645,000 after purchasing an additional 4,753 shares during the period. 74.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on shares of Saga Communications in a report on Tuesday, May 20th. They set a "hold" rating for the company.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.