Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells $121,895.76 in Stock

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 9,583 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $12.72, for a total transaction of $121,895.76. Following the completion of the transaction, the insider now directly owns 927,125 shares in the company, valued at approximately $11,793,030. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• 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 stock was sold at an average price of $12.66, for a total value of $379.80.

Saga Communications Stock Down 0.3%

SGA traded down $0.04 during trading hours on Thursday, reaching $12.68. 4,505 shares of the stock traded hands, compared to its average volume of 15,647. Saga Communications, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $17.04. The company has a market cap of $81.68 million, a price-to-earnings ratio of 17.61 and a beta of 0.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. The firm's fifty day simple moving average is $11.85 and its two-hundred day simple moving average is $11.99.

Saga Communications (NASDAQ:SGA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.08. Saga Communications had a return on equity of 3.22% and a net margin of 4.24%. The company had revenue of $24.21 million during the quarter, compared to the consensus estimate of $23.00 million. As a group, analysts forecast that Saga Communications, Inc. will post 0.23 earnings per share for the current fiscal year.

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 6th. This represents a $1.00 annualized dividend and a yield of 7.89%. Saga Communications's dividend payout ratio is presently 181.82%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Saga Communications

Several institutional investors and hedge funds have recently made changes to their positions in SGA. Jane Street Group LLC bought a new stake in shares of Saga Communications in the fourth quarter worth $115,000. Aristides Capital LLC raised its position in shares of Saga Communications by 12.1% during 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. Northern Trust Corp lifted its stake in Saga Communications by 10.4% in the fourth quarter. Northern Trust Corp now owns 13,874 shares of the company's stock valued at $153,000 after buying an additional 1,306 shares during the last quarter. Empowered Funds LLC boosted its stake in Saga Communications by 4.6% during the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company's stock valued at $316,000 after purchasing an additional 1,247 shares during the period. Finally, Nuveen LLC bought a new position in Saga Communications in the 1st quarter worth approximately $529,000. 74.28% of the stock is currently owned by hedge funds and other institutional investors.

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.