Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 1,750 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 1,750 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $12.75, for a total transaction of $22,312.50. Following the completion of the sale, the insider now directly owns 943,250 shares in the company, valued at approximately $12,026,437.50. This represents a 0.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 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 stock was 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 stock was 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 stock was 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 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 stock was sold at an average price of $12.10, for a total value of $28,144.60.
• On Friday, December 13th, Edward K. Christian Trust sold 543 shares of Saga Communications stock. The stock was sold at an average price of $12.92, for a total transaction of $7,015.56.

Saga Communications Trading Down 1.3 %

Shares of SGA stock traded down $0.16 during mid-day trading on Tuesday, reaching $12.32. The stock had a trading volume of 11,917 shares, compared to its average volume of 16,367. The stock’s 50-day moving average price is $11.98 and its two-hundred day moving average price is $13.47. Saga Communications, Inc. has a 52-week low of $10.75 and a 52-week high of $24.70. The firm has a market capitalization of $77.12 million, a PE ratio of 17.11 and a beta of 0.27. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03.

Saga Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend yield of 8.12%. Saga Communications’s dividend payout ratio is 138.89%.

Institutional Trading of Saga Communications

Institutional investors and hedge funds have recently bought and sold shares of the stock. Peapod Lane Capital LLC bought a new stake in shares of Saga Communications during the fourth quarter valued at approximately $1,675,000. Krilogy Financial LLC bought a new stake in shares of Saga Communications during the 4th quarter valued at $265,000. Geode Capital Management LLC grew its position 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 buying an additional 2,986 shares during the period. Finally, Empowered Funds LLC increased 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 acquiring an additional 1,340 shares in the last quarter. 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.