Insider Selling: Saga Communications (NASDAQ:SGA) Major Shareholder Sells 5,665 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 5,665 shares of Saga Communications stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.07, for a total transaction of $68,376.55. Following the sale, the insider owned 881,044 shares in the company, valued at $10,634,201.08. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saga Communications Stock Performance

NASDAQ SGA traded down $0.05 during trading hours on Friday, hitting $11.74. The company had a trading volume of 4,815 shares, compared to its average volume of 10,836. The business has a 50 day moving average of $11.41 and a 200-day moving average of $11.98. The company has a market cap of $75.61 million, a PE ratio of 234.80 and a beta of -0.02. Saga Communications, Inc. has a 1-year low of $10.68 and a 1-year high of $14.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.74 and a current ratio of 2.74.

Saga Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Thursday, February 26th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.5%. Saga Communications’s dividend payout ratio is 2,000.00%.

Analyst Ratings Changes

A number of brokerages have weighed in on SGA. Zacks Research upgraded Saga Communications from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Saga Communications in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Institutional Investors Weigh In On Saga Communications

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC increased its stake in shares of Saga Communications by 5.8% during the fourth quarter. Empowered Funds LLC now owns 33,851 shares of the company’s stock worth $386,000 after acquiring an additional 1,850 shares during the period. LPL Financial LLC acquired a new position in Saga Communications during the fourth quarter worth $163,000. Geode Capital Management LLC boosted its position in shares of Saga Communications by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 59,371 shares of the company’s stock worth $678,000 after buying an additional 1,923 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Saga Communications by 30,720.0% in the third quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock valued at $211,000 after purchasing an additional 16,896 shares in the last quarter. Finally, Osaic Holdings Inc. grew its holdings in Saga Communications by 256.7% during the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock valued at $52,000 after buying an additional 2,867 shares during the last quarter. 74.28% of the stock is owned by institutional investors and hedge funds.

About Saga Communications

Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full?service radio properties offering a variety of formats, including music, news?talk and sports programming. In addition to traditional over?the?air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.

Founded in 1985 by Edward J.