Saga Communications, Inc. (NASDAQ:SGA) Sees Large Decrease in Short Interest

Saga Communications, Inc. (NASDAQ:SGA) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 7,100 shares, a drop of 34.9% from the March 31st total of 10,900 shares. Based on an average trading volume of 11,400 shares, the short-interest ratio is presently 0.6 days. Currently, 0.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Saga Communications in a report on Saturday. They set a “hold” rating for the company.

Insider Buying and Selling at Saga Communications

In other news, major shareholder Edward K. Christian Trust sold 5,000 shares of Saga Communications stock in a transaction on Friday, February 14th. The stock was sold at an average price of $12.56, for a total transaction of $62,800.00. Following the sale, the insider now directly owns 938,250 shares in the company, valued at $11,784,420. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 12,540 shares of company stock valued at $158,738. Company insiders own 21.90% of the company’s stock.

Institutional Investors Weigh In On Saga Communications

A number of large investors have recently modified their holdings of SGA. Jane Street Group LLC purchased a new position in Saga Communications during the 4th quarter valued at about $115,000. Aristides Capital LLC grew its stake in shares of Saga Communications by 12.1% in the fourth 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 grew its stake in shares of Saga Communications by 10.4% in the fourth quarter. Northern Trust Corp now owns 13,874 shares of the company’s stock worth $153,000 after acquiring an additional 1,306 shares during the period. Krilogy Financial LLC purchased a new stake in shares of Saga Communications in the 4th quarter worth $265,000. Finally, Empowered Funds LLC raised its holdings in Saga Communications by 4.6% in the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company’s stock worth $316,000 after purchasing an additional 1,247 shares during the period. Institutional investors own 74.28% of the company’s stock.

Saga Communications Trading Down 1.6 %

SGA stock opened at $11.41 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64. Saga Communications has a one year low of $10.75 and a one year high of $23.56. The company’s 50 day moving average price is $11.76 and its two-hundred day moving average price is $12.29. The company has a market capitalization of $73.50 million, a PE ratio of 15.85 and a beta of 0.21.

Saga Communications Dividend Announcement

The company also recently declared 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 8.76%. The ex-dividend date was Tuesday, February 18th. Saga Communications’s dividend payout ratio (DPR) is presently 181.82%.

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.