Saga Communications, Inc. (NASDAQ:SGA – Get Free Report) 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 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.
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