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

Saga Communications, Inc. (NASDAQ:SGA) saw a significant growth in short interest in 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 short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lokken Investment Group LLC acquired a new position in shares of Saga Communications during the 4th quarter valued at about $200,000. Gate City Capital Management LLC acquired a new stake in shares of Saga Communications during the 4th quarter worth approximately $10,195,000. Empowered Funds LLC increased its stake in 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 acquiring an additional 6,614 shares during the last quarter. Perritt Capital Management Inc. lifted its stake in Saga Communications by 200.0% during the 1st quarter. Perritt Capital Management Inc. now owns 3,000 shares of the company’s stock worth $67,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Saga Communications by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company’s stock valued at $5,691,000 after acquiring an additional 4,015 shares during the period. 74.28% of the stock is currently owned by institutional investors and hedge funds.

Saga Communications Stock Performance

NASDAQ:SGA traded down $0.01 during trading hours on Monday, reaching $14.50. The company had a trading volume of 6,544 shares, compared to its average volume of 15,444. The business’s 50 day moving average price is $15.06 and its 200-day moving average price is $18.50. Saga Communications has a 1-year low of $14.06 and a 1-year high of $27.00. The firm has a market cap of $90.77 million, a PE ratio of 12.95 and a beta of 0.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.69 and a quick ratio of 2.69.

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

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Wednesday, September 25th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $1.00 dividend on an annualized basis and a yield of 6.90%. Saga Communications’s payout ratio is 89.29%.

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.