Saga Communications, Inc. (NYSEMKT:SGA) major shareholder Towerview Llc sold 2,587 shares of Saga Communications stock in a transaction on Monday, October 10th. The stock was sold at an average price of $46.32, for a total transaction of $119,829.84. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Towerview Llc also recently made the following trade(s):
- On Tuesday, October 4th, Towerview Llc sold 413 shares of Saga Communications stock. The stock was sold at an average price of $46.20, for a total transaction of $19,080.60.
Shares of Saga Communications, Inc. (NYSEMKT:SGA) opened at 46.15 on Thursday. The stock has a market capitalization of $270.44 million, a price-to-earnings ratio of 18.53 and a beta of 1.55. Saga Communications, Inc. has a 52 week low of $35.77 and a 52 week high of $48.09. The stock’s 50 day moving average is $43.00 and its 200-day moving average is $41.79.
Saga Communications (NYSEMKT:SGA) last issued its 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 analyst estimates of $34.36 million. On average, analysts anticipate that Saga Communications, Inc. will post $2.21 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were paid a $0.30 dividend. The ex-dividend date was Monday, September 12th. This is an increase from Saga Communications’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.58%. Saga Communications’s dividend payout ratio (DPR) is 40.00%.
Several hedge funds have recently modified their holdings of SGA. Societe Generale bought a new stake in shares of Saga Communications during the second quarter worth about $197,000. SG Americas Securities LLC increased its stake in shares of Saga Communications by 94.2% in the second quarter. SG Americas Securities LLC now owns 4,974 shares of the company’s stock worth $197,000 after buying an additional 2,413 shares during the period. Uniplan Investment Counsel Inc. increased its stake in shares of Saga Communications by 0.4% in the first quarter. Uniplan Investment Counsel Inc. now owns 117,429 shares of the company’s stock worth $4,704,000 after buying an additional 424 shares during the period. Teachers Advisors Inc. increased its stake in shares of Saga Communications by 7.1% in the second quarter. Teachers Advisors Inc. now owns 5,524 shares of the company’s stock worth $218,000 after buying an additional 366 shares during the period. Finally, O Shaughnessy Asset Management LLC increased 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 worth $114,000 after buying an additional 2,522 shares during the period.
Several research analysts have commented on SGA shares. Beaufort Securities reaffirmed a “buy” rating on shares of Saga Communications in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Saga Communications in a research note on Wednesday, June 22nd.
About Saga Communications
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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