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 on Thursday, July 3rd. The stock was sold at an average price of $13.21, for a total value of $70,013.00. Following the transaction, the insider directly owned 908,708 shares in the company, valued at approximately $12,004,032.68. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions 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 shares were 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 shares were 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 transaction of $412.83.
• On Monday, June 16th, Edward K. Christian Trust sold 50 shares of Saga Communications stock. The shares were sold at an average price of $12.50, for a total transaction 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 transaction of $3,873.50.
• On Wednesday, June 11th, Edward K. Christian Trust sold 70 shares of Saga Communications stock. The shares were sold at an average price of $12.65, for a total transaction 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 transaction of $121,895.76.

Saga Communications Stock Performance

NASDAQ:SGA traded up $0.32 during mid-day trading on Thursday, hitting $13.74. The company's stock had a trading volume of 12,695 shares, compared to its average volume of 15,260. Saga Communications, Inc. has a 1 year low of $10.75 and a 1 year high of $16.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.72 and a quick ratio of 2.72. The stock has a market cap of $88.51 million, a price-to-earnings ratio of 24.98 and a beta of 0.29. The business's fifty day moving average is $12.36 and its two-hundred day moving average is $12.04.

Saga Communications (NASDAQ:SGA - Get Free Report) last posted its quarterly 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 net margin of 3.15% and a return on equity of 2.09%. The company had revenue of $24.21 million for the quarter, compared to analyst estimates of $23.00 million. Analysts anticipate that Saga Communications, Inc. will post 0.23 EPS for the current fiscal year.

Saga Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.28%. The ex-dividend date was Friday, June 6th. Saga Communications's payout ratio is currently 181.82%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Saga Communications

Hedge funds have recently modified their holdings of the company. Bridgeway Capital Management LLC lifted its stake in Saga Communications by 1.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company's stock valued at $861,000 after buying an additional 847 shares in the last quarter. Northern Trust Corp lifted its stake in Saga Communications by 10.4% in the 4th quarter. Northern Trust Corp now owns 13,874 shares of the company's stock valued at $153,000 after buying an additional 1,306 shares in the last quarter. Aristides Capital LLC lifted its stake in Saga Communications by 12.1% in the 4th quarter. Aristides Capital LLC now owns 12,160 shares of the company's stock valued at $134,000 after buying an additional 1,310 shares in the last quarter. Empowered Funds LLC lifted its stake in Saga Communications by 6.2% in the 1st quarter. Empowered Funds LLC now owns 30,406 shares of the company's stock valued at $379,000 after buying an additional 1,769 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in 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 buying an additional 1,770 shares in the last quarter. 74.28% of the stock is owned by hedge funds and other institutional investors.

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.