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

Saga Communications, Inc. (NASDAQ:SGA) was the recipient of a large decline in short interest in February. As of February 15th, there was short interest totalling 8,100 shares, a decline of 60.7% from the January 31st total of 20,600 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 23,500 shares, the short-interest ratio is currently 0.3 days.

Saga Communications Stock Performance

Shares of SGA stock traded down $0.06 during trading on Friday, hitting $11.25. The company’s stock had a trading volume of 6,164 shares, compared to its average volume of 15,686. The company has a market cap of $70.44 million, a PE ratio of 15.63 and a beta of 0.27. The company has a current ratio of 2.64, a quick ratio of 2.64 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $11.97 and a 200-day moving average of $13.18. Saga Communications has a 52 week low of $10.75 and a 52 week high of $24.67.

Saga Communications Announces Dividend

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 paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.00 annualized dividend and a yield of 8.89%. Saga Communications’s payout ratio is 138.89%.

Insiders Place Their Bets

In other news, major shareholder Edward K. Christian Trust sold 2,326 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $12.10, for a total value of $28,144.60. Following the completion of the transaction, the insider now directly owns 962,280 shares of the company’s stock, valued at $11,643,588. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Gate City Capital Management, bought 240,609 shares of Saga Communications stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average cost of $11.25 per share, with a total value of $2,706,851.25. Following the completion of the acquisition, the insider now owns 863,845 shares of the company’s stock, valued at $9,718,256.25. This represents a 38.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 15,943 shares of company stock valued at $200,590. Corporate insiders own 21.90% of the company’s stock.

Hedge Funds Weigh In On Saga Communications

Several institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC lifted its stake in Saga Communications by 1.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company’s stock valued at $861,000 after purchasing an additional 847 shares during the last quarter. Empowered Funds LLC lifted its stake in Saga Communications by 4.6% in the fourth quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock valued at $316,000 after purchasing an additional 1,247 shares during the last quarter. Northern Trust Corp lifted its stake in Saga Communications by 10.4% in the fourth quarter. Northern Trust Corp now owns 13,874 shares of the company’s stock valued at $153,000 after purchasing an additional 1,306 shares during the last quarter. Aristides Capital LLC lifted its stake in Saga Communications by 12.1% in the fourth quarter. Aristides Capital LLC now owns 12,160 shares of the company’s stock valued at $134,000 after purchasing an additional 1,310 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Saga Communications by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company’s stock valued at $3,914,000 after purchasing an additional 1,770 shares during the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Saga Communications Company Profile

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.