Saga Communications, Inc. (NASDAQ:SGA) Short Interest Update

Saga Communications, Inc. (NASDAQ:SGA) was the target of a large growth in short interest in 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 days-to-cover ratio is currently 0.9 days.

Saga Communications Trading Up 0.1 %

SGA stock traded up $0.02 during midday trading on Friday, hitting $14.62. 10,329 shares of the company’s stock were exchanged, compared to its average volume of 16,142. The stock has a market capitalization of $91.52 million, a PE ratio of 13.05 and a beta of 0.26. 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 has a 1-year low of $14.06 and a 1-year high of $27.00. The business has a 50-day simple moving average of $14.96 and a two-hundred day simple moving average of $17.87.

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

Saga Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders 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 yield of 6.84%. The ex-dividend date is Wednesday, September 25th. Saga Communications’s dividend payout ratio (DPR) is presently 89.29%.

Hedge Funds Weigh In On Saga Communications

Several large investors have recently bought and sold shares of the business. Aristides Capital LLC raised 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 purchasing an additional 1,220 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of 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 acquiring an additional 6,800 shares during the period. Dimensional Fund Advisors LP increased its position in shares of 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 buying an additional 4,015 shares in the last quarter. Perritt Capital Management Inc. raised its position in Saga Communications by 200.0% during the first quarter. Perritt Capital Management Inc. now owns 3,000 shares of the company’s stock worth $67,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of 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 purchasing an additional 6,614 shares in the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

About Saga Communications

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.