Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells $62,800.00 in Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 5,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $12.56, for a total transaction of $62,800.00. Following the completion of the transaction, the insider now directly owns 938,250 shares of the company’s stock, valued at $11,784,420. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Edward K. Christian Trust also recently made the following trade(s):

• On Friday, February 7th, Edward K. Christian Trust sold 1,750 shares of Saga Communications stock. The shares were sold at an average price of $12.75, for a total transaction of $22,312.50.
• 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 transaction 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 transaction of $187.50.
• On Thursday, January 23rd, Edward K. Christian Trust sold 552 shares of Saga Communications stock. The shares were 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 transaction of $7,015.56.

Saga Communications Stock Down 1.3 %

SGA traded down $0.16 during trading on Tuesday, hitting $12.20. The company had a trading volume of 11,137 shares, compared to its average volume of 15,950. The company has a market capitalization of $76.37 million, a PE ratio of 16.94 and a beta of 0.27. Saga Communications, Inc. has a one year low of $10.75 and a one year high of $24.70. The firm’s 50-day moving average price is $12.02 and its 200 day moving average price is $13.37. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Saga Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.00 annualized dividend and a yield of 8.20%. Saga Communications’s dividend payout ratio is currently 138.89%.

Institutional Investors Weigh In On Saga Communications

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake 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 worth $771,000 after purchasing an additional 2,986 shares during the last quarter. Krilogy Financial LLC acquired a new position in shares of Saga Communications during the 4th quarter worth approximately $265,000. Peapod Lane Capital LLC acquired a new position in shares of Saga Communications during the 4th quarter worth approximately $1,675,000. Empowered Funds LLC lifted its holdings 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 during the period. Finally, Jane Street Group LLC bought a new stake in shares of Saga Communications during the 4th quarter worth approximately $115,000. 74.28% of the stock is owned by 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.