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

Saga Communications, Inc. (NASDAQ:SGA) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 11,300 shares, an increase of 39.5% from the August 15th total of 8,100 shares. Based on an average daily trading volume, of 16,300 shares, the short-interest ratio is presently 0.7 days.

Saga Communications Price Performance

Shares of Saga Communications stock traded down $0.01 during mid-day trading on Monday, reaching $14.50. 15,831 shares of the stock were exchanged, compared to its average volume of 15,496. Saga Communications has a fifty-two week low of $14.06 and a fifty-two week high of $27.00. The company has a market cap of $90.77 million, a price-to-earnings ratio of 12.95 and a beta of 0.26. The firm has a 50-day simple moving average of $15.05 and a 200 day simple moving average of $18.44. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03.

Saga Communications (NASDAQ:SGA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.23). Saga Communications had a return on equity of 4.00% and a net margin of 5.51%. The firm had revenue of $28.74 million for the quarter. During the same period last year, the firm posted $0.55 earnings per share. On average, sell-side analysts predict that Saga Communications will post 0.49 EPS for the current fiscal year.

Saga Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Wednesday, September 25th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.90%. Saga Communications’s dividend payout ratio is 89.29%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aristides Capital LLC boosted its position in Saga Communications by 12.7% in the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after buying an additional 1,220 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of 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 acquiring an additional 6,800 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Saga Communications by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock valued at $5,691,000 after acquiring an additional 4,015 shares during the last quarter. Perritt Capital Management Inc. increased its position in 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 purchasing an additional 2,000 shares during the period. Finally, Empowered Funds LLC raised its holdings in Saga Communications by 37.5% during the 1st quarter. Empowered Funds LLC now owns 24,250 shares of the company’s stock worth $541,000 after purchasing an additional 6,614 shares during the last quarter. Institutional investors and hedge funds 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.