Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells $24,106.60 in Stock

Key Points

• Edward K. Christian Trust, the major shareholder of Saga Communications, sold 1,799 shares at an average price of $13.40, totaling $24,106.60, reducing their ownership by 0.20% to 899,275 shares.
• Saga Communications recently reported a EPS of ($0.25) for the last quarter, surpassing analysts' expectations of ($0.33) with revenues of $24.21 million, exceeding estimates of $23.00 million.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 7.67%, despite a high dividend payout ratio of 181.82%.

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 1,799 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $13.40, for a total transaction of $24,106.60. Following the transaction, the insider owned 899,275 shares of the company's stock, valued at approximately $12,050,285. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 23rd, Edward K. Christian Trust sold 608 shares of Saga Communications stock. The stock was sold at an average price of $13.02, for a total transaction of $7,916.16.
• On Tuesday, July 15th, Edward K. Christian Trust sold 704 shares of Saga Communications stock. The shares were sold at an average price of $13.55, for a total transaction of $9,539.20.
• On Tuesday, July 15th, Edward K. Christian Trust sold 704 shares of Saga Communications stock. The shares were sold at an average price of $13.55, for a total transaction of $9,539.20.
• On Monday, July 14th, Edward K. Christian Trust sold 3,017 shares of Saga Communications stock. The stock was sold at an average price of $13.50, for a total transaction of $40,729.50.
• On Monday, July 14th, Edward K. Christian Trust sold 3,017 shares of Saga Communications stock. The stock was sold at an average price of $13.50, for a total transaction of $40,729.50.
• On Friday, July 11th, Edward K. Christian Trust sold 3,300 shares of Saga Communications stock. The stock was sold at an average price of $13.63, for a total transaction of $44,979.00.
• On Wednesday, July 9th, Edward K. Christian Trust sold 5 shares of Saga Communications stock. The shares were sold at an average price of $13.50, for a total transaction of $67.50.
• On Thursday, July 3rd, Edward K. Christian Trust sold 5,300 shares of Saga Communications stock. The shares were sold at an average price of $13.21, for a total transaction of $70,013.00.
• On Tuesday, July 1st, Edward K. Christian Trust sold 6,269 shares of Saga Communications stock. The shares were sold at an average price of $13.05, for a total transaction of $81,810.45.
• On Friday, June 27th, Edward K. Christian Trust sold 1,990 shares of Saga Communications stock. The shares were sold at an average price of $12.89, for a total transaction of $25,651.10.

Saga Communications Stock Performance

Shares of SGA stock traded down $0.51 during trading hours on Monday, hitting $13.04. 2,613 shares of the company were exchanged, compared to its average volume of 11,240. The firm has a fifty day simple moving average of $12.74 and a 200 day simple moving average of $12.21. Saga Communications, Inc. has a 52-week low of $10.75 and a 52-week high of $16.48. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $84.00 million, a price-to-earnings ratio of 23.71 and a beta of 0.29.

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

Saga Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 6th were paid a $0.25 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 7.67%. Saga Communications's dividend payout ratio is presently 181.82%.

Hedge Funds Weigh In On Saga Communications

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of Saga Communications by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 58,432 shares of the company's stock valued at $645,000 after purchasing an additional 4,753 shares in 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in Saga Communications by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company's stock worth $3,914,000 after purchasing an additional 1,770 shares in the last quarter. Northern Trust Corp raised its holdings 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 in the last quarter. Finally, Jane Street Group LLC bought a new position in Saga Communications in the 4th quarter worth $115,000. Hedge funds and other institutional investors own 74.28% of the company's stock.

Analyst Upgrades and Downgrades

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

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