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

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

Saga Communications Stock Down 0.4%

SGA stock opened at $11.74 on Friday. 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 P/E ratio of 234.80 and a beta of -0.02. Saga Communications, Inc. has a fifty-two week low of $10.68 and a fifty-two week high of $14.27. The business has a 50-day moving average of $11.42 and a 200-day moving average of $11.96.

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Thursday, February 26th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend is Thursday, February 26th. Saga Communications’s payout ratio is currently 2,000.00%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SGA. Weiss Ratings restated a “sell (d+)” rating on shares of Saga Communications in a research note on Thursday, January 22nd. Zacks Research upgraded Saga Communications from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Saga Communications by 3.3% during the 4th 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 last quarter. Empowered Funds LLC grew its stake in Saga Communications by 5.8% in the 4th quarter. Empowered Funds LLC now owns 33,851 shares of the company’s stock valued at $386,000 after buying an additional 1,850 shares during the last quarter. Bank of America Corp DE grew its stake in Saga Communications by 30,720.0% in the 3rd quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock valued at $211,000 after buying an additional 16,896 shares during the last quarter. LPL Financial LLC bought a new position in Saga Communications in the 4th quarter valued at about $163,000. Finally, Osaic Holdings Inc. lifted its position in Saga Communications by 256.7% during the second quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock worth $52,000 after acquiring an additional 2,867 shares during the last quarter. 74.28% of the stock is currently owned by institutional investors.

Saga Communications Company Profile

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.