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

Saga Communications, Inc. (NASDAQ:SGA) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 12,100 shares, a decrease of 13.6% from the December 15th total of 14,000 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 23,100 shares, the days-to-cover ratio is currently 0.5 days.

Saga Communications Trading Up 2.7 %

SGA stock traded up $0.31 on Friday, reaching $11.94. The company’s stock had a trading volume of 19,939 shares, compared to its average volume of 39,337. 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 12-month low of $10.75 and a 12-month high of $24.70. The firm has a market cap of $74.74 million, a PE ratio of 16.58 and a beta of 0.26. The business has a fifty day simple moving average of $12.00 and a two-hundred day simple moving average of $13.79.

Saga Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. The ex-dividend date was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 8.38%. Saga Communications’s dividend payout ratio (DPR) is currently 138.89%.

Insider Activity at Saga Communications

In related news, major shareholder Gate City Capital Management, acquired 240,609 shares of the company’s stock in a transaction dated Tuesday, December 31st. The stock was purchased at an average price of $11.25 per share, with a total value of $2,706,851.25. Following the completion of the purchase, the insider now owns 863,845 shares in the company, valued at $9,718,256.25. This trade represents a 38.61 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Saga Communications

A number of institutional investors have recently modified their holdings of SGA. Aristides Capital LLC boosted its position in shares of Saga Communications by 12.7% during the second quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after buying an additional 1,220 shares during the last quarter. Krilogy Financial LLC purchased a new stake in shares of Saga Communications in the 4th quarter worth $265,000. Marquette Asset Management LLC increased its position in Saga Communications by 4.2% in the third quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock worth $318,000 after buying an additional 894 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Saga Communications by 5.1% in the third quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after purchasing an additional 1,340 shares during the period. Finally, Geode Capital Management LLC increased its stake in Saga Communications by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after buying an additional 2,986 shares in the last quarter. 74.28% of the stock is owned by hedge funds and other institutional investors.

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.