Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 1,799 Shares of 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 company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $13.40, for a total transaction of $24,106.60. Following the sale, the insider directly owned 899,275 shares in the company, valued at $12,050,285. This trade represents a 0.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 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 Wednesday, July 23rd, Edward K. Christian Trust sold 608 shares of Saga Communications stock. The shares were 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 shares were 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 shares were 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 shares were 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 Up 1.2%

Shares of SGA traded up $0.16 on Friday, reaching $12.76. The company's stock had a trading volume of 1,665 shares, compared to its average volume of 11,000. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.03. Saga Communications, Inc. has a twelve month low of $10.75 and a twelve month high of $16.48. The stock has a market capitalization of $82.14 million, a PE ratio of 23.19 and a beta of 0.29. The firm has a fifty day moving average of $12.80 and a 200-day moving average of $12.24.

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. Saga Communications had a net margin of 3.15% and a return on equity of 2.09%. The company had revenue of $24.21 million for the quarter, compared to analyst estimates of $23.00 million. Equities analysts predict that Saga Communications, Inc. will post 0.23 EPS for the current year.

Saga Communications Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 7.8%. Saga Communications's dividend payout ratio (DPR) is 181.82%.

Institutional Investors Weigh In On Saga Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGA. Geode Capital Management LLC increased its stake in 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 buying an additional 4,753 shares during the last quarter. Aristides Capital LLC increased its stake in Saga Communications by 12.1% in the 4th quarter. Aristides Capital LLC now owns 12,160 shares of the company's stock valued at $134,000 after buying an additional 1,310 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Saga Communications by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company's stock valued at $3,914,000 after acquiring an additional 1,770 shares during the period. Northern Trust Corp grew its position in shares of Saga Communications by 10.4% during the 4th quarter. Northern Trust Corp now owns 13,874 shares of the company's stock valued at $153,000 after acquiring an additional 1,306 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Saga Communications during the 4th quarter valued at approximately $115,000. Hedge funds and other institutional investors own 74.28% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen initiated coverage on shares of Saga Communications in a report on Tuesday, May 20th. They issued 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.