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 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 transaction, the insider owned 922,267 shares in the company, valued at $12,100,143.04. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major 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, 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 stock was 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 value of $121,895.76.
• On Thursday, April 3rd, Edward K. Christian Trust sold 3 shares of Saga Communications stock. The stock was 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 stock was sold at an average price of $12.66, for a total value of $379.80.

Saga Communications Stock Up 0.9%

SGA stock traded up $0.12 during trading on Monday, hitting $13.00. 5,282 shares of the stock traded hands, compared to its average volume of 15,152. The stock has a market cap of $83.72 million, a price-to-earnings ratio of 23.64 and a beta of 0.27. 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, Inc. has a 1 year low of $10.75 and a 1 year high of $16.48. The firm's 50 day moving average is $12.12 and its two-hundred day moving average is $11.98.

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 analysts' consensus estimates of ($0.33) by $0.08. Saga Communications had a net margin of 3.15% and a return on equity of 2.09%. The firm had revenue of $24.21 million for the quarter, compared to analysts' expectations of $23.00 million. On average, sell-side analysts anticipate that Saga Communications, Inc. will post 0.23 EPS for the current year.

Saga Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date was Friday, June 6th. Saga Communications's payout ratio is 181.82%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SGA. Jane Street Group LLC bought a new position in shares of Saga Communications during the 4th quarter valued at $115,000. Aristides Capital LLC boosted its stake in shares of Saga Communications by 12.1% in the fourth quarter. Aristides Capital LLC now owns 12,160 shares of the company's stock worth $134,000 after acquiring an additional 1,310 shares during the period. Northern Trust Corp boosted 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 worth $153,000 after purchasing an additional 1,306 shares during the period. Empowered Funds LLC boosted its position in shares of Saga Communications by 6.2% during the first quarter. Empowered Funds LLC now owns 30,406 shares of the company's stock worth $379,000 after acquiring an additional 1,769 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Saga Communications during the first quarter valued at $529,000. Hedge funds and other institutional investors own 74.28% of the company's stock.

Saga Communications Company Profile

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.