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

Saga Communications, Inc. (NASDAQ:SGA) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 12,600 shares, a growth of 113.6% from the February 28th total of 5,900 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 22,800 shares, the days-to-cover ratio is currently 0.6 days.

Insider Buying and Selling at Saga Communications

In other Saga Communications news, major shareholder Edward K. Christian Trust sold 2,326 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $12.10, for a total value of $28,144.60. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Gate City Capital Management, acquired 240,609 shares of Saga Communications stock in a transaction dated Tuesday, December 31st. The shares were purchased at an average price of $11.25 per share, with a total value of $2,706,851.25. Following the acquisition, the insider now owns 863,845 shares of the company’s stock, valued at approximately $9,718,256.25. This trade represents a 38.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 15,400 shares of company stock valued at $193,575 in the last quarter. 21.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SGA. Jane Street Group LLC acquired a new stake in shares of Saga Communications in the fourth quarter valued at approximately $115,000. Aristides Capital LLC increased its stake in Saga Communications by 12.1% during the 4th quarter. Aristides Capital LLC now owns 12,160 shares of the company’s stock worth $134,000 after acquiring an additional 1,310 shares during the period. Northern Trust Corp raised its holdings in Saga Communications by 10.4% in the 4th quarter. Northern Trust Corp now owns 13,874 shares of the company’s stock valued at $153,000 after acquiring an additional 1,306 shares in the last quarter. Krilogy Financial LLC bought a new stake in shares of Saga Communications during the 4th quarter valued at $265,000. Finally, Empowered Funds LLC lifted its position in shares of Saga Communications by 4.6% during the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock valued at $316,000 after acquiring an additional 1,247 shares during the period. Institutional investors and hedge funds own 74.28% of the company’s stock.

Saga Communications Stock Performance

Shares of SGA traded down $0.55 during midday trading on Friday, reaching $12.19. 4,283 shares of the stock were exchanged, compared to its average volume of 17,329. The stock’s 50 day simple moving average is $12.15 and its 200 day simple moving average is $12.75. The company has a market cap of $76.32 million, a P/E ratio of 16.93 and a beta of 0.27. Saga Communications has a twelve month low of $10.75 and a twelve month high of $23.56. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Saga Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.20%. The ex-dividend date of this dividend was Tuesday, February 18th. Saga Communications’s dividend payout ratio is currently 181.82%.

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.