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

Saga Communications, Inc. (NASDAQ:SGA) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 7,329 shares, a decrease of 59.6% from the December 31st total of 18,120 shares. Based on an average trading volume of 17,961 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 17,961 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Saga Communications

Large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in Saga Communications by 6.2% in the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock valued at $379,000 after purchasing an additional 1,769 shares during the period. Osaic Holdings Inc. raised its position in Saga Communications by 256.7% in the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock valued at $52,000 after purchasing an additional 2,867 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Saga Communications by 30,720.0% during the 3rd quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock worth $211,000 after acquiring an additional 16,896 shares during the period. 74.28% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Saga Communications from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Saga Communications in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Saga Communications currently has a consensus rating of “Reduce”.

Saga Communications Trading Down 0.6%

Saga Communications stock traded down $0.07 during trading hours on Friday, hitting $11.42. The company had a trading volume of 961 shares, compared to its average volume of 11,207. Saga Communications has a 1 year low of $10.68 and a 1 year high of $14.27. The firm has a market cap of $73.54 million, a P/E ratio of 228.40 and a beta of -0.01. The company has a 50-day moving average price of $11.48 and a two-hundred day moving average price of $12.19. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.74 and a current ratio of 2.74.

Saga Communications (NASDAQ:SGA) last posted its earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.29). Saga Communications had a net margin of 0.27% and a return on equity of 0.18%. The company had revenue of $28.17 million during the quarter, compared to analysts’ expectations of $28.30 million. On average, sell-side analysts anticipate that Saga Communications will post 0.23 earnings per share for the current year.

Saga Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, November 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 24th. This represents a $1.00 dividend on an annualized basis and a yield of 8.8%. Saga Communications’s dividend payout ratio is currently 2,000.00%.

About Saga Communications

Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.

Founded in 1985 by Edward J.