Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 1,750 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 1,750 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $12.75, for a total value of $22,312.50. Following the completion of the transaction, the insider now owns 943,250 shares in the company, valued at approximately $12,026,437.50. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more 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, February 5th, Edward K. Christian Trust sold 5,651 shares of Saga Communications stock. The stock was sold at an average price of $12.72, for a total value of $71,880.72.
• On Thursday, January 30th, Edward K. Christian Trust sold 106 shares of Saga Communications stock. The shares were sold at an average price of $12.52, for a total value of $1,327.12.
• On Tuesday, January 28th, Edward K. Christian Trust sold 15 shares of Saga Communications stock. The shares were sold at an average price of $12.50, for a total value of $187.50.
• On Thursday, January 23rd, Edward K. Christian Trust sold 552 shares of Saga Communications stock. The stock was sold at an average price of $12.54, for a total transaction of $6,922.08.
• On Tuesday, January 21st, Edward K. Christian Trust sold 2,326 shares of Saga Communications stock. The shares were sold at an average price of $12.10, for a total value of $28,144.60.
• On Friday, December 13th, Edward K. Christian Trust sold 543 shares of Saga Communications stock. The shares were sold at an average price of $12.92, for a total transaction of $7,015.56.

Saga Communications Price Performance

Shares of SGA stock opened at $12.32 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. The stock has a 50 day moving average price of $11.98 and a 200 day moving average price of $13.45. Saga Communications, Inc. has a 52-week low of $10.75 and a 52-week high of $24.70. The firm has a market capitalization of $77.12 million, a P/E ratio of 17.11 and a beta of 0.27.

Saga Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.12%. The ex-dividend date of this dividend is Tuesday, February 18th. Saga Communications’s dividend payout ratio is presently 138.89%.

Institutional Trading of Saga Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Krilogy Financial LLC purchased a new position in shares of Saga Communications during the fourth quarter valued at $265,000. Empowered Funds LLC raised its stake in shares of Saga Communications by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after acquiring an additional 1,340 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Saga Communications by 5.9% during the 3rd quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock valued at $771,000 after purchasing an additional 2,986 shares during the last quarter. Finally, Peapod Lane Capital LLC purchased a new stake in Saga Communications in the fourth quarter valued at about $1,675,000. 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.