Edward K. Christian Trust Sells 6,269 Shares of Saga Communications, Inc. (NASDAQ:SGA) Stock

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 6,269 shares of Saga Communications stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $13.05, for a total value of $81,810.45. Following the sale, the insider directly owned 914,008 shares in the company, valued at approximately $11,927,804.40. The trade was a 0.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 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 transaction 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.
• 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 stock was 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 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.

Saga Communications Price Performance

Saga Communications stock traded down $0.04 during trading hours on Friday, hitting $13.16. 19,833 shares of the company traded hands, compared to its average volume of 15,296. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.03. The firm's 50-day simple moving average is $12.21 and its two-hundred day simple moving average is $12.00. 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 $84.75 million, a P/E ratio of 23.93 and a beta of 0.29.

Saga Communications (NASDAQ:SGA - Get Free Report) last released 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 business 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%. As a group, analysts forecast that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 7.60%. Saga Communications's dividend payout ratio is currently 181.82%.

Institutional Trading of Saga Communications

Several institutional investors and hedge funds have recently bought and sold shares of SGA. Empowered Funds LLC boosted its position in Saga Communications by 6.2% during the 1st 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 period. Mork Capital Management LLC increased its position in Saga Communications by 100.0% during the first 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 during the period. Nuveen LLC acquired a new position in shares of Saga Communications in the first quarter valued at $529,000. Peapod Lane Capital LLC lifted its holdings in shares of Saga Communications by 34.2% during the 1st quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company's stock worth $2,540,000 after acquiring an additional 51,884 shares during the period. Finally, Gate City Capital Management LLC grew its stake in shares of Saga Communications by 94.5% in the 4th quarter. Gate City Capital Management LLC now owns 863,845 shares of the company's stock valued at $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.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on Saga Communications in a report on Tuesday, May 20th. They set 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.