Saga Communications (NASDAQ:SGA) Shares Down 3.8% – Here’s What Happened

Saga Communications, Inc. (NASDAQ:SGA) was down 3.8% during trading on Wednesday . The company traded as low as $14.31 and last traded at $14.31. Approximately 17,529 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 15,534 shares. The stock had previously closed at $14.87.

Saga Communications Stock Down 3.8 %

The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $14.52 and a two-hundred day simple moving average of $16.60. The firm has a market capitalization of $89.62 million, a P/E ratio of 12.78 and a beta of 0.26.

Saga Communications (NASDAQ:SGA) last issued 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 company 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 period last year, the company posted $0.55 EPS. On average, equities analysts predict that Saga Communications, Inc. will post 0.49 EPS for the current fiscal year.

Saga Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, September 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.99%. Saga Communications’s payout ratio is 89.29%.

Hedge Funds Weigh In On Saga Communications

Several institutional investors have recently added to or reduced their stakes in SGA. Renaissance Technologies LLC lifted its position in Saga Communications by 5.9% during the second quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock valued at $1,933,000 after purchasing an additional 6,800 shares during the last quarter. Empowered Funds LLC raised its position in shares of Saga Communications by 37.5% during the 1st quarter. Empowered Funds LLC now owns 24,250 shares of the company’s stock valued at $541,000 after buying an additional 6,614 shares in the last quarter. Marquette Asset Management LLC lifted its holdings in shares of Saga Communications by 4.2% in the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after acquiring an additional 894 shares during the last quarter. Aristides Capital LLC grew its position in Saga Communications by 12.7% in the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Saga Communications by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock worth $5,691,000 after acquiring an additional 4,015 shares during the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

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.