Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 2,326 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 2,326 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.10, for a total transaction of $28,144.60. Following the sale, the insider now owns 962,280 shares of the company’s stock, valued at approximately $11,643,588. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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, 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 Stock Up 0.2 %

Shares of SGA traded up $0.03 on Thursday, reaching $12.41. The stock had a trading volume of 11,354 shares, compared to its average volume of 22,025. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. Saga Communications, Inc. has a 12-month low of $10.75 and a 12-month high of $24.70. The firm has a market capitalization of $77.69 million, a price-to-earnings ratio of 17.24 and a beta of 0.26. The company has a 50-day simple moving average of $11.97 and a 200-day simple moving average of $13.72.

Saga Communications (NASDAQ:SGA) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.13 by $0.07. Saga Communications had a return on equity of 3.22% and a net margin of 4.24%. The business had revenue of $28.12 million during the quarter, compared to analyst estimates of $28.70 million. During the same quarter last year, the firm posted $0.45 earnings per share. Sell-side analysts predict that Saga Communications, Inc. will post 0.23 EPS for the current year.

Saga Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.06%. The ex-dividend date of this dividend was Monday, November 25th. Saga Communications’s payout ratio is 138.89%.

Hedge Funds Weigh In On Saga Communications

Hedge funds have recently added to or reduced their stakes in the company. Aristides Capital LLC increased its holdings in shares of Saga Communications by 12.7% in the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after purchasing an additional 1,220 shares in the last quarter. Krilogy Financial LLC bought a new stake in shares of Saga Communications during the 4th quarter valued at about $265,000. Marquette Asset Management LLC grew its stake in shares of Saga Communications by 4.2% during the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after purchasing an additional 894 shares during the period. Empowered Funds LLC increased its position 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 valued at $393,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Saga Communications by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after purchasing an additional 2,986 shares during the period. 74.28% of the stock is currently owned by hedge funds and other 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.