SoFi CEO enters prepaid forward contract on 1.5 million shares
The Edward K. Christian Trust, a ten percent owner of Saga Communications Inc (NASDAQ:SGA), a $90 million market cap broadcasting company, sold 5 shares of Class A Common Stock on July 9, 2025, according to a Form 4 filing with the Securities and Exchange Commission. InvestingPro analysis indicates the stock is currently trading in overbought territory, after posting a strong 24% return over the past six months. The shares were sold at a price of $13.50, for a total transaction value of $67. Following the transaction, the Edward K. Christian Trust directly owns 908,703 shares of Saga Communications. The company currently offers an attractive 7.3% dividend yield, with a 14-year track record of consistent dividend payments. For deeper insights into SGA’s technical indicators and dividend sustainability, investors can access additional analysis through InvestingPro, which features 8 more key investment tips for this stock.
In other recent news, Saga Communications reported a net revenue decrease of 4.3% in Q1 2025, totaling $24.2 million, compared to $25.3 million in the same period last year. Despite this decline, the company improved its operating loss slightly, reducing it to $2.3 million from $2.4 million. Notably, Saga Communications saw significant growth in digital ad revenue, reaching $5.3 million as of May 8, 2025, surpassing the total for all of 2024. The company’s capital expenditures also decreased significantly to $700,000 from $1.1 million in Q1 2024, reflecting effective cost management. Additionally, the company aims to capture 5% of digital ad dollars in 28 markets, with the potential to double gross annual revenue in 18-24 months. Saga Communications is also evaluating a nonbinding letter of intent to sell some of its tower sites, with plans to use a portion of the proceeds for stock buybacks. The company’s balance sheet remains robust, with $27 million in cash and short-term investments as of March 31, 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.