Saga Communications, Inc. (NASDAQ:SGA – Get Free Report) was the recipient of a significant growth in short interest during 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 daily volume of 16,300 shares, the days-to-cover ratio is presently 0.7 days.
Saga Communications Price Performance
NASDAQ:SGA traded down $0.01 during trading hours on Monday, reaching $14.50. The stock had a trading volume of 6,544 shares, compared to its average volume of 15,444. The company has a 50 day moving average price of $15.06 and a two-hundred day moving average price of $18.50. 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 stock has a market capitalization of $90.77 million, a PE ratio of 12.95 and a beta of 0.26.
Saga Communications (NASDAQ:SGA – Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.23). The business had revenue of $28.74 million for the quarter. Saga Communications had a net margin of 5.51% and a return on equity of 4.00%. During the same period in the previous year, the business earned $0.55 EPS. As a group, sell-side analysts anticipate that Saga Communications will post 0.49 earnings per share for the current fiscal year.
Saga Communications Dividend Announcement
Hedge Funds Weigh In On Saga Communications
Large investors have recently bought and sold shares of the business. Perritt Capital Management Inc. raised its holdings 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 in the last quarter. Lokken Investment Group LLC purchased a new stake in Saga Communications during the fourth quarter valued at approximately $200,000. Aristides Capital LLC boosted its stake in Saga Communications by 12.7% in the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after acquiring an additional 1,220 shares in the last quarter. Empowered Funds LLC increased its position in shares of Saga Communications by 37.5% during the first quarter. Empowered Funds LLC now owns 24,250 shares of the company’s stock worth $541,000 after purchasing an additional 6,614 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Saga Communications by 5.9% during the 2nd quarter. Renaissance Technologies LLC now owns 122,744 shares of the company’s stock valued at $1,933,000 after buying an additional 6,800 shares in the last quarter. 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.
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