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

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

Insider Buying and Selling at Saga Communications

In other Saga Communications news, major shareholder Edward K. Christian Trust sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $12.56, for a total value of $62,800.00. Following the sale, the insider now owns 938,250 shares in the company, valued at approximately $11,784,420. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 12,434 shares of company stock worth $157,411 over the last 90 days. Insiders own 21.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in shares of Saga Communications during the 4th quarter valued at about $115,000. Aristides Capital LLC increased its position in Saga Communications by 12.1% during 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 increased its stake in Saga Communications by 10.4% during the fourth 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 during the period. Krilogy Financial LLC acquired a new position in shares of Saga Communications in the fourth quarter valued at $265,000. Finally, Empowered Funds LLC boosted 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 in the last quarter. Institutional investors and hedge funds own 74.28% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Saga Communications in a report on Friday. They set a "hold" rating on the stock.

Saga Communications Trading Down 0.9 %

Shares of NASDAQ:SGA traded down $0.11 during midday trading on Monday, reaching $11.50. The company had a trading volume of 2,509 shares, compared to its average volume of 16,909. 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 1-year low of $10.75 and a 1-year high of $23.39. The firm has a market cap of $74.05 million, a price-to-earnings ratio of 15.97 and a beta of 0.22. The company has a fifty day simple moving average of $11.74 and a two-hundred day simple moving average of $12.22.

Saga Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.00 annualized dividend and a yield of 8.70%. 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.