Insider Selling: Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Sells 5,651 Shares of Stock

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 5,651 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $12.72, for a total transaction of $71,880.72. Following the transaction, the insider now owns 945,000 shares in the company, valued at approximately $12,020,400. This represents a 0.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 Friday, February 7th, Edward K. Christian Trust sold 1,750 shares of Saga Communications stock. The shares were sold at an average price of $12.75, for a total transaction of $22,312.50.
• 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 transaction 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 transaction 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 transaction of $6,922.08.
• On Tuesday, January 21st, Edward K. Christian Trust sold 2,326 shares of Saga Communications stock. The shares were sold at an average price of $12.10, for a total transaction 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 transaction of $7,015.56.

Saga Communications Stock Performance

Saga Communications stock traded down $0.16 on Tuesday, reaching $12.32. 11,917 shares of the stock were exchanged, compared to its average volume of 16,367. The stock has a market cap of $77.12 million, a PE ratio of 17.11 and a beta of 0.27. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. Saga Communications, Inc. has a twelve month low of $10.75 and a twelve month high of $24.70. The firm has a fifty day moving average price of $11.98 and a two-hundred day moving average price of $13.47.

Saga Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.12%. The ex-dividend date is Tuesday, February 18th. Saga Communications's dividend payout ratio is 138.89%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SGA. Krilogy Financial LLC acquired a new position in Saga Communications during the 4th quarter worth $265,000. Empowered Funds LLC raised its position in shares of Saga Communications by 4.6% during the fourth quarter. Empowered Funds LLC now owns 28,637 shares of the company's stock valued at $316,000 after buying an additional 1,247 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Saga Communications by 5.9% during the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company's stock valued at $771,000 after buying an additional 2,986 shares during the last quarter. Finally, Peapod Lane Capital LLC acquired a new position in shares of Saga Communications during the fourth quarter valued at about $1,675,000. Institutional investors and hedge funds own 74.28% of the company's stock.

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.