Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 1,027 Shares of Stock

Key Points

• Edward K. Christian Trust, a major shareholder of Saga Communications, sold 1,027 shares at an average price of $12.59, reducing their stake by 0.11%.
• The company reported $0.18 earnings per share for the latest quarter, missing estimates by $0.01, with revenues of $28.23 million.
• Saga Communications announced a quarterly dividend of $0.25 per share, translating to an annual yield of 7.7%, despite a high payout ratio of 303.03%.

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 1,027 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $12.59, for a total transaction of $12,929.93. Following the completion of the transaction, the insider owned 897,159 shares in the company, valued at approximately $11,295,231.81. This trade represents a 0.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 stock was sold at an average price of $13.50, for a total transaction of $67.50.

Saga Communications Price Performance

SGA stock traded up $0.07 during trading on Monday, reaching $12.97. 4,640 shares of the company were exchanged, compared to its average volume of 10,846. The company has a 50-day moving average of $12.85 and a two-hundred day moving average of $12.27. The company has a market capitalization of $83.53 million, a price-to-earnings ratio of 39.30 and a beta of 0.32. Saga Communications, Inc. has a twelve month low of $10.75 and a twelve month high of $15.77. 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 posted its quarterly earnings data on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). Saga Communications had a net margin of 1.91% and a return on equity of 1.26%. The company had revenue of $28.23 million during the quarter, compared to analyst estimates of $28.55 million. As a group, equities analysts predict that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a $0.25 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 7.7%. Saga Communications's payout ratio is presently 303.03%.

Analyst Upgrades and Downgrades

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.

Hedge Funds Weigh In On Saga Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in Saga Communications by 6.2% in the first 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 during the period. Mork Capital Management LLC grew 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 worth $624,000 after purchasing an additional 25,000 shares during the period. Nuveen LLC acquired a new stake in Saga Communications in the first quarter worth $529,000. Peapod Lane Capital LLC grew 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 worth $2,540,000 after purchasing an additional 51,884 shares during the period. Finally, Gate City Capital Management LLC grew its holdings in Saga Communications by 94.5% in the fourth quarter. Gate City Capital Management LLC now owns 863,845 shares of the company's stock worth $9,528,000 after purchasing an additional 419,714 shares during the period. Institutional investors and hedge funds own 74.28% of the company's 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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