Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Edward K. Christian Trust Sells 1,750 Shares

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 1,750 shares of the business’s stock in a transaction that occurred 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 $12,026,437.50. The trade was a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large 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 Wednesday, February 5th, Edward K. Christian Trust sold 5,651 shares of Saga Communications stock. The shares were 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 transaction 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 transaction 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 value of $7,015.56.

Saga Communications Stock Down 1.3 %

Shares of SGA opened at $12.32 on Wednesday. Saga Communications, Inc. has a 1 year low of $10.75 and a 1 year high of $24.70. The firm has a market cap of $77.12 million, a P/E ratio of 17.11 and a beta of 0.27. The stock has a 50 day simple moving average of $11.98 and a two-hundred day simple moving average of $13.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64.

Saga Communications Announces Dividend

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

Institutional Investors Weigh In On Saga Communications

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in 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 buying an additional 2,986 shares during the period. Krilogy Financial LLC purchased a new stake in shares of Saga Communications in the 4th quarter worth about $265,000. Empowered Funds LLC grew its stake in shares of Saga Communications by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after buying an additional 1,340 shares during the last quarter. Finally, Peapod Lane Capital LLC purchased a new stake in shares of Saga Communications in the fourth quarter worth $1,675,000. 74.28% of the stock is currently owned by hedge funds and other institutional investors.

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.