Edward K. Christian Trust Sells 1,054 Shares of Saga Communications (NASDAQ:SGA) Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 1,054 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $13.34, for a total transaction of $14,060.36. Following the transaction, the insider owned 894,378 shares of the company’s stock, valued at $11,931,002.52. This represents a 0.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major 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 Friday, August 22nd, Edward K. Christian Trust sold 1,727 shares of Saga Communications stock. The stock was sold at an average price of $13.29, for a total transaction of $22,951.83.
• On Thursday, August 7th, Edward K. Christian Trust sold 1,027 shares of Saga Communications stock. The stock was sold at an average price of $12.59, for a total transaction of $12,929.93.
• On Thursday, July 31st, Edward K. Christian Trust sold 400 shares of Saga Communications stock. The stock was sold at an average price of $13.06, for a total transaction of $5,224.00.
• On Wednesday, July 30th, Edward K. Christian Trust sold 689 shares of Saga Communications stock. The stock was sold at an average price of $13.10, for a total transaction of $9,025.90.
• On Friday, July 25th, Edward K. Christian Trust sold 1,799 shares of Saga Communications stock. The stock was sold at an average price of $13.40, for a total transaction of $24,106.60.
• 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 stock was 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 stock was 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.

Saga Communications Price Performance

Shares of NASDAQ:SGA opened at $12.10 on Friday. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $77.92 million, a PE ratio of 36.67 and a beta of 0.32. Saga Communications, Inc. has a twelve month low of $10.75 and a twelve month high of $15.17. The company has a 50-day moving average price of $13.01 and a two-hundred day moving average price of $12.32.

Saga Communications (NASDAQ:SGA) last issued its earnings results on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The business had revenue of $28.23 million for the quarter, compared to the consensus estimate of $28.55 million. Saga Communications had a return on equity of 1.27% and a net margin of 1.91%. Equities analysts forecast that Saga Communications, Inc. will post 0.23 EPS for the current year.

Saga Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, August 26th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date is Tuesday, August 26th. Saga Communications’s dividend payout ratio (DPR) is 303.03%.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on shares of Saga Communications in a research report on Tuesday, May 20th. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Saga Communications

A number of large investors have recently modified their holdings of SGA. Jane Street Group LLC purchased a new stake in Saga Communications in the fourth quarter valued at approximately $115,000. Northern Trust Corp raised 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 purchasing an additional 1,306 shares in the last quarter. Empowered Funds LLC raised its stake in Saga Communications by 6.2% in the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock valued at $379,000 after purchasing an additional 1,769 shares in the last quarter. Nuveen LLC purchased a new stake in Saga Communications in the first quarter valued at approximately $529,000. Finally, Mork Capital Management LLC raised its stake in Saga Communications by 100.0% in the first quarter. Mork Capital Management LLC now owns 50,000 shares of the company’s stock valued at $624,000 after purchasing an additional 25,000 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors.

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.