Short Interest in Saga Communications, Inc. (NASDAQ:SGA) Increases By 45.1%

Saga Communications, Inc. (NASDAQ:SGA) saw a large growth in short interest during the month of 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 trading volume of 17,800 shares, the short-interest ratio is currently 0.9 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGA. Gate City Capital Management LLC purchased a new stake in Saga Communications during the 4th quarter worth $10,195,000. Dimensional Fund Advisors LP boosted 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 worth $5,691,000 after buying an additional 4,015 shares during the period. Renaissance Technologies LLC grew its stake in shares of Saga Communications by 5.9% in the second 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. Empowered Funds LLC boosted 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 worth $541,000 after acquiring an additional 6,614 shares during the period. Finally, Aristides Capital LLC grew its position 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. Institutional investors and hedge funds own 74.28% of the company’s stock.

Saga Communications Trading Up 0.1 %

NASDAQ:SGA traded up $0.02 during mid-day trading on Friday, reaching $14.62. The company’s stock had a trading volume of 10,329 shares, compared to its average volume of 16,142. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.69 and a quick ratio of 2.69. The stock has a market cap of $91.52 million, a P/E ratio of 13.05 and a beta of 0.26. The company’s fifty day simple moving average is $14.96 and its two-hundred day simple moving average is $17.87. Saga Communications has a twelve month low of $14.06 and a twelve month high of $27.00.

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

Saga Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Wednesday, September 25th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend is Wednesday, September 25th. Saga Communications’s dividend payout ratio (DPR) is currently 89.29%.

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.