Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 4,400 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 4,400 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $13.12, for a total value of $57,728.00. Following the sale, the insider now directly owns 922,267 shares in the company, valued at approximately $12,100,143.04. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 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, 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 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 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 value 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 stock was sold at an average price of $12.72, for a total transaction of $121,895.76.
• On Thursday, April 3rd, Edward K. Christian Trust sold 3 shares of Saga Communications stock. The shares were sold at an average price of $12.65, for a total value of $37.95.
• On Tuesday, April 1st, Edward K. Christian Trust sold 30 shares of Saga Communications stock. The shares were sold at an average price of $12.66, for a total transaction of $379.80.

Saga Communications Trading Up 1.0%

NASDAQ SGA traded up $0.13 on Friday, reaching $12.88. 12,946 shares of the company were exchanged, compared to its average volume of 15,182. The business's fifty day moving average price is $12.06 and its 200 day moving average price is $11.98. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $82.95 million, a P/E ratio of 23.42 and a beta of 0.27. Saga Communications, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $16.48.

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

Saga Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.76%. The ex-dividend date of this dividend is Friday, June 6th. Saga Communications's payout ratio is 181.82%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Saga Communications

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted 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 valued at $645,000 after purchasing an additional 4,753 shares during the period. Aristides Capital LLC lifted its position 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 acquiring an additional 1,310 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 purchasing an additional 1,770 shares during the period. Northern Trust Corp grew its position in shares of Saga Communications by 10.4% during the fourth quarter. Northern Trust Corp now owns 13,874 shares of the company's stock worth $153,000 after acquiring an additional 1,306 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Saga Communications during the 4th quarter worth $115,000. 74.28% of the stock is currently 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.

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