Saga Communications, Inc. (NASDAQ:SGA) Sees Significant Increase in Short Interest

Saga Communications, Inc. (NASDAQ:SGA) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 16,400 shares, a growth of 45.1% from the August 31st total of 11,300 shares. Based on an average daily volume of 17,800 shares, the short-interest ratio is currently 0.9 days.

Institutional Trading of Saga Communications

A number of institutional investors have recently bought and sold shares of SGA. Perritt Capital Management Inc. boosted its stake in shares of Saga Communications by 200.0% in the first quarter. Perritt Capital Management Inc. now owns 3,000 shares of the company’s stock worth $67,000 after buying an additional 2,000 shares during the last quarter. Aristides Capital LLC lifted its holdings in shares of Saga Communications by 12.7% during the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after purchasing an additional 1,220 shares in the last quarter. Lokken Investment Group LLC acquired a new stake in shares of Saga Communications in the 4th quarter valued at approximately $200,000. Empowered Funds LLC boosted its stake in Saga Communications by 37.5% in the first quarter. Empowered Funds LLC now owns 24,250 shares of the company’s stock valued at $541,000 after acquiring an additional 6,614 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Saga Communications by 5.9% in the 2nd quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock worth $1,933,000 after purchasing an additional 6,800 shares in the last quarter. Institutional investors and hedge funds own 74.28% of the company’s stock.

Saga Communications Stock Performance

SGA traded up $0.02 during trading on Friday, reaching $14.62. The company’s stock had a trading volume of 10,329 shares, compared to its average volume of 16,142. The company has a market capitalization of $91.52 million, a price-to-earnings ratio of 13.05 and a beta of 0.26. Saga Communications has a 52-week low of $14.06 and a 52-week high of $27.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 2.69. The company’s fifty day moving average price is $14.96 and its 200-day moving average price is $17.91.

Saga Communications (NASDAQ:SGA) last posted its earnings results on Thursday, August 8th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.23). The business had revenue of $28.74 million for the quarter. Saga Communications had a return on equity of 4.00% and a net margin of 5.51%. During the same quarter last year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that Saga Communications will post 0.49 earnings per share for the current fiscal year.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Wednesday, September 25th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.84%. The ex-dividend date is Wednesday, September 25th. Saga Communications’s dividend payout ratio (DPR) is presently 89.29%.

Saga Communications Company Profile

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.