Edward K. Christian Trust Sells 3,017 Shares of Saga Communications, Inc. (NASDAQ:SGA) Stock

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 3,017 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $13.50, for a total transaction of $40,729.50. Following the completion of the sale, the insider owned 902,386 shares in the company, valued at $12,182,211. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 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 value 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 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 Friday, July 11th, Edward K. Christian Trust sold 3,300 shares of Saga Communications stock. The shares were 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.
• 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 transaction 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 stock was 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 stock was sold at an average price of $12.51, for a total transaction of $412.83.

Saga Communications Price Performance

Saga Communications stock traded up $0.04 on Friday, reaching $13.26. The company's stock had a trading volume of 3,322 shares, compared to its average volume of 15,116. Saga Communications, Inc. has a twelve month low of $10.75 and a twelve month high of $16.48. The business's fifty day moving average price is $12.61 and its 200 day moving average price is $12.14. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.72 and a current ratio of 2.72. The company has a market cap of $85.39 million, a price-to-earnings ratio of 24.11 and a beta of 0.29.

Saga Communications (NASDAQ:SGA - Get Free Report) last released 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. The company had revenue of $24.21 million during the quarter, compared to analysts' expectations of $23.00 million. Saga Communications had a return on equity of 2.09% and a net margin of 3.15%. Equities analysts expect that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 7.54%. Saga Communications's dividend payout ratio is presently 181.82%.

Institutional Trading of Saga Communications

A number of hedge funds have recently modified their holdings of the company. Gate City Capital Management LLC increased 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 purchasing an additional 419,714 shares in the last quarter. Peapod Lane Capital LLC boosted its position in shares of 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 buying an additional 51,884 shares during the period. Nuveen LLC bought a new position in shares of Saga Communications during the first quarter worth about $529,000. Mork Capital Management LLC grew its stake in shares of Saga Communications by 100.0% during the 1st quarter. Mork Capital Management LLC now owns 50,000 shares of the company's stock worth $624,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Saga Communications in the fourth quarter valued at approximately $115,000. 74.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen started coverage on shares of Saga Communications in a research note 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.