Saga Communications, Inc. (NASDAQ:SGA) Major Shareholder Edward K. Christian Trust Sells 5,000 Shares of Stock

Posted by Scott Moore on Feb 19th, 2025

Saga Communications, Inc. (NASDAQ:SGA – Get Free Report) major shareholder Edward K. Christian Trust sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $12.56, for a total value of $62,800.00. Following the completion of the sale, the insider now directly owns 938,250 shares in the company, valued at approximately $11,784,420. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 stock was sold at an average price of $12.75, for a total value of $22,312.50.
On Wednesday, February 5th, Edward K. Christian Trust sold 5,651 shares of Saga Communications stock. The stock was sold at an average price of $12.72, for a total value of $71,880.72.
On Thursday, January 30th, Edward K. Christian Trust sold 106 shares of Saga Communications stock. The stock was sold at an average price of $12.52, for a total value of $1,327.12.
On Tuesday, January 28th, Edward K. Christian Trust sold 15 shares of Saga Communications stock. The stock was sold at an average price of $12.50, for a total value of $187.50.
On Thursday, January 23rd, Edward K. Christian Trust sold 552 shares of Saga Communications stock. The stock was sold at an average price of $12.54, for a total value 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 value of $28,144.60.
On Friday, December 13th, Edward K. Christian Trust sold 543 shares of Saga Communications stock. The shares were sold at an average price of $12.92, for a total value of $7,015.56.

Saga Communications Stock Performance

NASDAQ SGA opened at $12.20 on Wednesday. The firm has a market capitalization of $76.37 million, a P/E ratio of 16.94 and a beta of 0.27. Saga Communications, Inc. has a 1-year low of $10.75 and a 1-year high of $24.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. The business’s 50-day simple moving average is $12.03 and its 200-day simple moving average is $13.35.

Saga Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.20%. The ex-dividend date is Tuesday, February 18th. Saga Communications’s dividend payout ratio is currently 138.89%.

Hedge Funds Weigh In On Saga Communications

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new position in shares of Saga Communications in the 4th quarter valued at about $115,000. Aristides Capital LLC lifted its position in Saga Communications by 12.1% during the 4th quarter. Aristides Capital LLC now owns 12,160 shares of the company’s stock worth $134,000 after acquiring an additional 1,310 shares in the last quarter. Northern Trust Corp lifted its position in Saga Communications by 10.4% during the 4th quarter. Northern Trust Corp now owns 13,874 shares of the company’s stock worth $153,000 after acquiring an additional 1,306 shares in the last quarter. Krilogy Financial LLC acquired a new position in Saga Communications during the 4th quarter worth approximately $265,000. Finally, Empowered Funds LLC lifted its position in Saga Communications by 4.6% during the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock worth $316,000 after acquiring an additional 1,247 shares in the last quarter. 74.28% of the stock is owned by institutional investors and hedge funds.

About Saga Communications

(Get Free Report)

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.