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

Saga Communications, Inc. (NASDAQ:SGA) was the recipient of a significant increase in short interest in January. As of January 31st, there was short interest totalling 20,600 shares, an increase of 237.7% from the January 15th total of 6,100 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 23,700 shares, the short-interest ratio is presently 0.9 days.

Insider Buying and Selling at Saga Communications

In other Saga Communications news, major shareholder Gate City Capital Management, bought 240,609 shares of the stock in a transaction dated Tuesday, December 31st. The stock was bought at an average cost of $11.25 per share, for a total transaction of $2,706,851.25. Following the completion of the purchase, the insider now owns 863,845 shares in the company, valued at $9,718,256.25. This represents a 38.61 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Edward K. Christian Trust sold 5,651 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $12.72, for a total transaction of $71,880.72. Following the transaction, the insider now owns 945,000 shares in the company, valued at approximately $12,020,400. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,943 shares of company stock worth $137,790 over the last ninety days. Corporate insiders own 21.90% of the company’s stock.

Institutional Trading of Saga Communications

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Saga Communications by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 58,432 shares of the company’s stock valued at $645,000 after purchasing an additional 4,753 shares during the period. Peapod Lane Capital LLC acquired a new position in shares of Saga Communications in the 4th quarter valued at $1,675,000. Empowered Funds LLC grew its holdings in shares of Saga Communications by 4.6% in the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock valued at $316,000 after buying an additional 1,247 shares during the period. Finally, Krilogy Financial LLC bought a new stake in shares of Saga Communications in the 4th quarter valued at $265,000. 74.28% of the stock is owned by institutional investors.

Saga Communications Price Performance

Shares of SGA stock traded up $0.08 during trading hours on Wednesday, reaching $12.40. 7,212 shares of the company were exchanged, compared to its average volume of 16,040. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.64. The company has a market cap of $77.62 million, a price-to-earnings ratio of 17.22 and a beta of 0.27. The stock’s fifty day moving average is $11.98 and its two-hundred day moving average is $13.45. Saga Communications has a fifty-two week low of $10.75 and a fifty-two week high of $24.70.

Saga Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 18th will be given a $0.25 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.00 dividend on an annualized basis and a yield of 8.06%. Saga Communications’s payout ratio is 138.89%.

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.