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 firm’s 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 transaction, the insider now directly owns 1,307,894 shares of the company’s stock, valued at $60,581,650.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares 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 company’s 50-day moving average is $42.86 and its 200 day moving average is $41.76. Saga Communications, Inc. has a one year low of $35.77 and a one year high of $48.09. The company has a market capitalization of $269.85 million, a P/E ratio of 18.49 and a beta of 1.55.
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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 firm had revenue of $36.40 million for the quarter, compared to the consensus estimate of $34.36 million. Analysts predict that Saga Communications, Inc. will post $2.21 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th were given a dividend of $0.30 per share. This is a positive change from Saga Communications’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.61%. The ex-dividend date was Monday, September 12th. Saga Communications’s dividend payout ratio is 40.00%.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Saga Communications by 0.4% in the second quarter. Vanguard Group Inc. now owns 146,326 shares of the company’s stock valued at $5,786,000 after buying an additional 531 shares during the period. Uniplan Investment Counsel Inc. increased its position in Saga Communications by 4.5% in the second quarter. Uniplan Investment Counsel Inc. now owns 122,741 shares of the company’s stock valued at $4,853,000 after buying an additional 5,312 shares in the last quarter. BlackRock Fund Advisors increased its position in Saga Communications by 2.4% in the second quarter. BlackRock Fund Advisors now owns 95,189 shares of the company’s stock valued at $3,764,000 after buying an additional 2,260 shares in the last quarter. WCM Investment Management CA increased its position in Saga Communications by 4.8% in the second quarter. WCM Investment Management CA now owns 41,135 shares of the company’s stock valued at $1,626,000 after buying an additional 1,875 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Saga Communications by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 25,592 shares of the company’s stock valued at $1,012,000 after buying an additional 1,263 shares in the last quarter.
A number of equities analysts have recently commented on SGA shares. Beaufort Securities reaffirmed a “buy” rating on shares of Saga Communications in a report on Wednesday, June 22nd. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Saga Communications in a report on Wednesday, June 22nd.
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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