Short Interest in Saga Communications, Inc. (NASDAQ:SGA) Increases By 39.5%

Saga Communications, Inc. (NASDAQ:SGA) 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) 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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors 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 yield of 6.90%. The ex-dividend date of this dividend is Wednesday, September 25th. Saga Communications’s dividend payout ratio (DPR) is presently 89.29%.

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.