Insider Selling: Saga Communications (NASDAQ:SGA) Major Shareholder Sells $20,862.50 in Stock

Key Points

• Edward K. Christian Trust, a major shareholder of Saga Communications, sold 1,669 shares at $12.50 per share, totaling $20,862.50, which decreased their stake by 0.19% to 886,709 shares valued at over $11 million.
• Saga Communications' stock experienced a 0.5% increase, reaching $12.56, despite the company's recent earnings miss and a consensus "sell" rating from analysts.
• The company recently announced a quarterly dividend of $0.25, yielding an annualized return of 8.0%, although the dividend payout ratio stands at a high 303.03%.

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 1,669 shares of the business's stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $12.50, for a total value of $20,862.50. Following the completion of the sale, the insider owned 886,709 shares in the company, valued at $11,083,862.50. This represents a 0.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Edward K. Christian Trust also recently made the following trade(s):

• On Thursday, October 16th, Edward K. Christian Trust sold 761 shares of Saga Communications stock. The shares were sold at an average price of $12.51, for a total value of $9,520.11.
• On Wednesday, October 15th, Edward K. Christian Trust sold 682 shares of Saga Communications stock. The shares were sold at an average price of $12.56, for a total value of $8,565.92.
• On Tuesday, October 14th, Edward K. Christian Trust sold 748 shares of Saga Communications stock. The shares were sold at an average price of $12.51, for a total value of $9,357.48.
• On Wednesday, October 8th, Edward K. Christian Trust sold 1 shares of Saga Communications stock. The shares were sold at an average price of $13.03, for a total transaction of $13.03.
• On Tuesday, October 7th, Edward K. Christian Trust sold 10 shares of Saga Communications stock. The shares were sold at an average price of $13.00, for a total transaction of $130.00.
• On Monday, October 6th, Edward K. Christian Trust sold 629 shares of Saga Communications stock. The shares were sold at an average price of $13.04, for a total transaction of $8,202.16.
• On Tuesday, September 30th, Edward K. Christian Trust sold 48 shares of Saga Communications stock. The shares were sold at an average price of $12.57, for a total transaction of $603.36.
• On Friday, September 26th, Edward K. Christian Trust sold 316 shares of Saga Communications stock. The shares were sold at an average price of $12.51, for a total transaction of $3,953.16.
• On Friday, September 19th, Edward K. Christian Trust sold 581 shares of Saga Communications stock. The stock was sold at an average price of $12.63, for a total value of $7,338.03.
• On Monday, August 25th, Edward K. Christian Trust sold 1,054 shares of Saga Communications stock. The stock was sold at an average price of $13.34, for a total value of $14,060.36.

Saga Communications Stock Up 0.5%

NASDAQ SGA traded up $0.06 during trading hours on Thursday, hitting $12.56. 1,592 shares of the company were exchanged, compared to its average volume of 10,099. The company has a 50 day moving average of $12.51 and a two-hundred day moving average of $12.41. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.03. Saga Communications, Inc. has a 52-week low of $10.75 and a 52-week high of $15.10. The firm has a market cap of $80.89 million, a price-to-earnings ratio of 38.06 and a beta of 0.31.

Saga Communications (NASDAQ:SGA - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). Saga Communications had a return on equity of 1.27% and a net margin of 1.91%.The company had revenue of $28.23 million for the quarter, compared to analysts' expectations of $28.55 million. Equities research analysts anticipate that Saga Communications, Inc. will post 0.23 earnings per share for the current year.

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, August 26th were issued a $0.25 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.0%. Saga Communications's dividend payout ratio is presently 303.03%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SGA. Osaic Holdings Inc. grew its stake in Saga Communications by 256.7% during the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company's stock worth $52,000 after buying an additional 2,867 shares during the last quarter. Empowered Funds LLC lifted 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. Nuveen LLC acquired a new stake in Saga Communications during the 1st quarter worth approximately $529,000. Mork Capital Management LLC lifted its position in 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 during the period. Finally, Peapod Lane Capital LLC lifted its position in 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. Hedge funds and other institutional investors own 74.28% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of Saga Communications in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of "Sell".

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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