Saga Communications (NASDAQ:SGA) Major Shareholder Edward K. Christian Trust Sells 5,665 Shares

Saga Communications, Inc. (NASDAQ:SGA) major shareholder Edward K. Christian Trust sold 5,665 shares of Saga Communications stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.07, for a total transaction of $68,376.55. Following the completion of the sale, the insider owned 881,044 shares of the company’s stock, valued at approximately $10,634,201.08. This trade represents a 0.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Saga Communications Trading Down 0.4%

SGA opened at $11.74 on Friday. Saga Communications, Inc. has a 12-month low of $10.68 and a 12-month high of $14.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $75.61 million, a PE ratio of 234.80 and a beta of -0.02. The firm’s fifty day moving average price is $11.42 and its 200 day moving average price is $11.97.

Saga Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Thursday, February 26th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, February 26th. This represents a $1.00 annualized dividend and a yield of 8.5%. Saga Communications’s dividend payout ratio is presently 2,000.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SGA shares. Zacks Research raised Saga Communications from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Saga Communications in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Saga Communications currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Saga Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC raised its stake in Saga Communications by 5.8% during the 4th quarter. Empowered Funds LLC now owns 33,851 shares of the company’s stock valued at $386,000 after acquiring an additional 1,850 shares in the last quarter. LPL Financial LLC acquired a new position in shares of Saga Communications during the fourth quarter valued at $163,000. Geode Capital Management LLC increased its holdings in shares of Saga Communications by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 59,371 shares of the company’s stock valued at $678,000 after purchasing an additional 1,923 shares during the period. Bank of America Corp DE raised its stake in shares of Saga Communications by 30,720.0% during the third quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock valued at $211,000 after purchasing an additional 16,896 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Saga Communications by 256.7% in the second quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock worth $52,000 after purchasing an additional 2,867 shares during the period. 74.28% of the stock is owned by institutional investors.

About Saga Communications

Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.

Founded in 1985 by Edward J.