Saga Communications, Inc. (SGA) Major Shareholder Towerview Llc Sells 2,587 Shares
Saga Communications, Inc. (NYSEMKT:SGA) major shareholder Towerview Llc sold 2,587 shares of the stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $46.32, for a total transaction of $119,829.84. Following the sale, the insider now owns 1,307,894 shares in the company, valued at approximately $60,581,650.08. The transaction was disclosed in a 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 stock 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.
Saga Communications, Inc. (NYSEMKT:SGA) opened at 46.05 on Wednesday. The firm has a 50-day moving average of $42.86 and a 200 day moving average of $41.76. The company has a market cap of $269.85 million, a PE ratio of 18.49 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.
Saga Communications (NYSEMKT:SGA) last posted its quarterly 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. Equities research analysts expect that Saga Communications, Inc. will post $2.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.61%. This is a positive change from Saga Communications’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, September 12th. Saga Communications’s dividend payout ratio (DPR) is currently 40.00%.
Several research firms have commented on SGA. JPMorgan Chase & Co. restated an “underweight” rating on shares of Saga Communications in a research report on Wednesday, June 22nd. Beaufort Securities restated a “buy” rating on shares of Saga Communications in a research report on Wednesday, June 22nd.
Hedge funds have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC raised its stake in Saga Communications by 702.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,881 shares of the company’s stock valued at $114,000 after buying an additional 2,522 shares in the last quarter. SG Americas Securities LLC increased its position in 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 last quarter. Societe Generale acquired a new position in Saga Communications during the second quarter worth approximately $197,000. Teachers Advisors Inc. increased its position in 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 last quarter. Finally, BlackRock Investment Management LLC increased its position in Saga Communications by 13.5% in the second quarter. BlackRock Investment Management LLC now owns 15,477 shares of the company’s stock worth $612,000 after buying an additional 1,839 shares during the last quarter.
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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