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

Saga Communications, Inc. (NASDAQ:SGA) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 8,100 shares, a drop of 60.7% from the January 31st total of 20,600 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 23,500 shares, the short-interest ratio is currently 0.3 days.

Saga Communications Trading Down 0.5 %

NASDAQ:SGA traded down $0.06 during trading hours on Friday, hitting $11.25. 6,164 shares of the stock were exchanged, compared to its average volume of 15,686. The company has a market capitalization of $70.44 million, a P/E ratio of 15.63 and a beta of 0.27. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $11.97 and its two-hundred day moving average is $13.17. Saga Communications has a twelve month low of $10.75 and a twelve month high of $24.67.

Saga Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.89%. The ex-dividend date is Tuesday, February 18th. Saga Communications’s dividend payout ratio (DPR) is presently 138.89%.

Insider Transactions at Saga Communications

In other Saga Communications news, major shareholder Edward K. Christian Trust sold 2,326 shares of the business’s 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 completion of the transaction, the insider now directly owns 962,280 shares of the company’s stock, valued at approximately $11,643,588. The trade was a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Gate City Capital Management, purchased 240,609 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were bought at an average cost of $11.25 per share, for a total transaction of $2,706,851.25. Following the completion of the purchase, the insider now directly owns 863,845 shares of the company’s stock, valued at $9,718,256.25. The trade was a 38.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 15,943 shares of company stock valued at $200,590. Corporate insiders own 21.90% of the company’s stock.

Institutional Trading of Saga Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGA. Gate City Capital Management LLC lifted its position in Saga Communications by 94.5% during the 4th quarter. Gate City Capital Management LLC now owns 863,845 shares of the company’s stock valued at $9,528,000 after purchasing an additional 419,714 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Saga Communications by 1.1% during the fourth quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company’s stock worth $861,000 after buying an additional 847 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Saga Communications during the fourth quarter worth approximately $115,000. Northern Trust Corp lifted its holdings in Saga Communications by 10.4% in the fourth quarter. Northern Trust Corp now owns 13,874 shares of the company’s stock valued at $153,000 after buying an additional 1,306 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Saga Communications by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company’s stock valued at $3,914,000 after acquiring an additional 1,770 shares during the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

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.