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 company'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 value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more 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 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 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 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 shares were 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 shares were 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 transaction 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 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.

Saga Communications Price Performance

Shares of NASDAQ:SGA traded up $0.04 on Friday, reaching $13.26. 3,322 shares of the company were exchanged, compared to its average volume of 15,116. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.03. Saga Communications, Inc. has a 1-year low of $10.75 and a 1-year high of $16.48. The firm has a market cap of $85.42 million, a price-to-earnings ratio of 24.11 and a beta of 0.29. The company has a 50-day moving average of $12.61 and a 200-day moving average of $12.14.

Saga Communications (NASDAQ:SGA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.08. The company had revenue of $24.21 million for the quarter, compared to analysts' expectations of $23.00 million. Saga Communications had a net margin of 3.15% and a return on equity of 2.09%. Equities analysts forecast that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Dividend Announcement

The firm also recently declared 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 7.54%. Saga Communications's payout ratio is 181.82%.

Analysts Set New Price Targets

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

Institutional Trading of Saga Communications

A number of hedge funds have recently made changes to their positions in the company. Bridgeway Capital Management LLC boosted 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. Northern Trust Corp lifted its stake in Saga Communications by 10.4% in the fourth 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 during the last quarter. Aristides Capital LLC lifted its stake in Saga Communications by 12.1% in the fourth 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 during the last quarter. Empowered Funds LLC lifted its stake 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 last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Saga Communications by 0.5% in the fourth 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 during the last quarter. Hedge funds and other institutional investors 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.