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 Saga Communications stock in a transaction on Friday, February 7th. The shares were sold at an average price of $12.75, for a total value of $22,312.50. Following the transaction, the insider now owns 943,250 shares in the company, valued at approximately $12,026,437.50. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 value 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 shares were sold at an average price of $12.54, for a total value 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 value of $7,015.56.

Saga Communications Stock Performance

Shares of NASDAQ SGA opened at $12.40 on Thursday. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $77.62 million, a price-to-earnings ratio of 17.22 and a beta of 0.27. The stock’s fifty day simple moving average is $11.98 and its 200 day simple moving average is $13.45. Saga Communications, Inc. has a 52-week low of $10.75 and a 52-week high of $24.70.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.06%. The ex-dividend date is Tuesday, February 18th. Saga Communications’s payout ratio is 138.89%.

Hedge Funds Weigh In On Saga Communications

Hedge funds have recently modified their holdings of the stock. Krilogy Financial LLC acquired a new position in shares of Saga Communications in the 4th quarter worth $265,000. Empowered Funds LLC grew its holdings in shares of Saga Communications by 4.6% in the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock worth $316,000 after acquiring an additional 1,247 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Saga Communications by 8.9% in the 4th quarter. Geode Capital Management LLC now owns 58,432 shares of the company’s stock worth $645,000 after acquiring an additional 4,753 shares during the last quarter. Finally, Peapod Lane Capital LLC purchased a new position in shares of Saga Communications during the fourth quarter valued at $1,675,000. 74.28% of the stock is currently owned by institutional investors and hedge funds.

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.