Saga Communications, Inc. (SGA) Major Shareholder Sells $119,829.84 in Stock
Saga Communications, Inc. (NYSEMKT:SGA) major shareholder Towerview Llc sold 2,587 shares of the firm’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $46.32, for a total value of $119,829.84. Following the sale, the insider now directly owns 1,307,894 shares of the company’s stock, valued at $60,581,650.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Towerview Llc also recently made the following trade(s):
- On Tuesday, October 11th, Towerview Llc sold 139 shares of Saga Communications stock. The shares were sold at an average price of $46.50, for a total value of $6,463.50.
- On Tuesday, October 4th, Towerview Llc sold 413 shares of Saga Communications stock. The shares were sold at an average price of $46.20, for a total value of $19,080.60.
Shares of Saga Communications, Inc. (NYSEMKT:SGA) opened at 45.45 on Monday. Saga Communications, Inc. has a 1-year low of $35.77 and a 1-year high of $48.09. The stock has a 50 day moving average price of $43.26 and a 200 day moving average price of $41.86. The firm has a market capitalization of $266.34 million, a PE ratio of 18.25 and a beta of 1.55.
Saga Communications (NYSEMKT:SGA) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.82 earnings per share (EPS) for the quarter. The company earned $36.40 million during the quarter, compared to the consensus estimate of $34.36 million. Equities research analysts anticipate that Saga Communications, Inc. will post $2.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were paid a $0.30 dividend. This is a boost from Saga Communications’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Monday, September 12th. Saga Communications’s payout ratio is 40.00%.
Large investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC boosted its stake in shares of Saga Communications by 702.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,881 shares of the company’s stock valued at $114,000 after buying an additional 2,522 shares during the period. SG Americas Securities LLC boosted its stake in Saga Communications by 94.2% in the second quarter. SG Americas Securities LLC now owns 4,974 shares of the company’s stock valued at $197,000 after buying an additional 2,413 shares during the last quarter. Societe Generale acquired a new stake in Saga Communications during the second quarter valued at $197,000. Teachers Advisors Inc. boosted its stake in Saga Communications by 7.1% in the second quarter. Teachers Advisors Inc. now owns 5,524 shares of the company’s stock valued at $218,000 after buying an additional 366 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in Saga Communications by 13.5% in the second quarter. BlackRock Investment Management LLC now owns 15,477 shares of the company’s stock valued at $612,000 after buying an additional 1,839 shares during the last quarter.
SGA has been the subject of several research reports. Beaufort Securities reissued a “buy” rating on shares of Saga Communications in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Saga Communications in a research note on Wednesday, June 22nd.
Saga Communications Company Profile
Saga Communications, Inc is a broadcast company primarily engaged in acquiring, developing and operating broadcast properties. The Company owns and/or operates over four television stations and over five low-power television stations serving approximately two markets, and over 67 frequency modulation (FM) and 32 amplitude modulation (AM) radio stations serving approximately 20 markets, including Bellingham, Washington; Columbus, Ohio; Norfolk, Virginia; Milwaukee, Wisconsin; Manchester, New Hampshire; Des Moines, Iowa, and Joplin, Missouri.
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