Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 1,990 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 1,990 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $12.89, for a total value of $25,651.10. Following the transaction, the insider owned 920,277 shares of the company's stock, valued at approximately $11,862,370.53. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 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.
• 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.

Saga Communications Stock Up 0.7%

Shares of NASDAQ:SGA traded up $0.10 during trading on Wednesday, hitting $13.10. The stock had a trading volume of 2,025 shares, compared to its average volume of 15,167. 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 company has a market capitalization of $84.33 million, a PE ratio of 23.81 and a beta of 0.29. The firm's fifty day moving average is $12.15 and its 200 day moving average is $11.99. Saga Communications, Inc. has a 12 month low of $10.75 and a 12 month high of $16.48.

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

Saga Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.64%. The ex-dividend date was Friday, June 6th. Saga Communications's dividend payout ratio (DPR) is 181.82%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on shares of Saga Communications in a report on Tuesday, May 20th. They set a "hold" rating for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGA. Geode Capital Management LLC boosted its stake in shares of Saga Communications by 8.9% during the 4th quarter. Geode Capital Management LLC now owns 58,432 shares of the company's stock worth $645,000 after acquiring an additional 4,753 shares during the last quarter. Aristides Capital LLC raised its holdings in Saga Communications by 12.1% in the 4th quarter. Aristides Capital LLC now owns 12,160 shares of the company's stock worth $134,000 after purchasing an additional 1,310 shares during the period. Dimensional Fund Advisors LP lifted its position in Saga Communications by 0.5% during the fourth 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 in the last quarter. Northern Trust Corp grew its holdings in Saga Communications by 10.4% during the fourth quarter. Northern Trust Corp now owns 13,874 shares of the company's stock valued at $153,000 after purchasing an additional 1,306 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Saga Communications in the fourth quarter worth about $115,000. 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.