Saga Communications, Inc. (NASDAQ:SGA) Short Interest Up 39.5% in August

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Gate City Capital Management LLC bought a new position in Saga Communications during the fourth quarter worth $10,195,000. Dimensional Fund Advisors LP grew its position 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 buying an additional 4,015 shares in the last quarter. Renaissance Technologies LLC increased its stake 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 acquiring an additional 6,800 shares during the period. Empowered Funds LLC raised its holdings in Saga Communications by 37.5% in the 1st 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 in the last quarter. Finally, Aristides Capital LLC lifted its position in shares of Saga Communications by 12.7% in the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock worth $171,000 after acquiring an additional 1,220 shares during the period. Institutional investors and hedge funds own 74.28% of the company’s stock.

Saga Communications Stock Down 0.1 %

SGA stock traded down $0.01 during midday trading on Monday, reaching $14.50. The company had a trading volume of 15,831 shares, compared to its average volume of 15,496. The company has a 50 day moving average of $15.05 and a two-hundred day moving average of $18.44. The company has a market capitalization of $90.77 million, a P/E ratio of 12.95 and a beta of 0.26. Saga Communications has a 1 year low of $14.06 and a 1 year high of $27.00. 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 released its quarterly earnings data on Thursday, August 8th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities research analysts expect that Saga Communications will post 0.49 earnings per share for the current fiscal year.

Saga Communications Announces Dividend

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