Key Points
- Edward K. Christian Trust sold 5,665 shares of Saga Communications at an average price of $12.07 (totaling $68,376.55) and now directly owns 881,044 shares, a 0.64% reduction in its stake, as disclosed in an SEC filing.
- The company declared a quarterly dividend of $0.25 (annualized $1.00) payable March 20 with an ex-dividend/record date of February 26, implying a 8.5% yield
- Saga is a small-cap radio broadcaster (market cap ~$75.6M) trading with a high trailing PE (~234.8) and a MarketBeat consensus rating of “Reduce”, while institutional investors hold about 74.3% of the shares.
Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) major shareholder Edward K. Christian Trust sold 5,665 shares of the company's stock in a transaction that occurred 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 directly owned 881,044 shares of the company's stock, valued at approximately $10,634,201.08. This represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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.
Saga Communications Price Performance
NASDAQ 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 firm has a market capitalization of $75.61 million, a PE ratio of 234.80 and a beta of -0.02. The company's 50 day simple moving average is $11.42 and its 200 day simple moving average is $11.97. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.74 and a quick ratio of 2.74.
Saga Communications Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Thursday, February 26th will be paid 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%.
Institutional Investors Weigh In On Saga Communications
Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its holdings in shares of Saga Communications by 256.7% during the second quarter. Osaic Holdings Inc. now owns 3,984 shares of the company's stock valued at $52,000 after purchasing an additional 2,867 shares during the last quarter. LPL Financial LLC purchased a new stake in Saga Communications during the fourth quarter valued at about $163,000. Bank of America Corp DE boosted its holdings in shares of Saga Communications by 30,720.0% in the third quarter. Bank of America Corp DE now owns 16,951 shares of the company's stock worth $211,000 after buying an additional 16,896 shares during the period. Empowered Funds LLC increased its position in shares of Saga Communications by 6.2% in the first quarter. Empowered Funds LLC now owns 30,406 shares of the company's stock worth $379,000 after acquiring an additional 1,769 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Saga Communications by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 59,371 shares of the company's stock valued at $678,000 after acquiring an additional 1,923 shares in the last quarter. 74.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on SGA. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Saga Communications in a research note on Thursday, January 22nd. Zacks Research raised shares of Saga Communications from a "strong sell" rating to a "hold" rating in a report on Friday, January 9th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Saga Communications currently has a consensus rating of "Reduce".
Check Out Our Latest Stock Analysis on SGA
Saga Communications Company Profile
(
Get Free Report)
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.
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