Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) saw a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 11,200 shares, a decrease of 32.9% from the May 15th total of 16,700 shares. Based on an average daily trading volume, of 7,100 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.3% of the shares of the company are short sold.
Wall Street Analyst Weigh In
Separately, Wall Street Zen initiated coverage on shares of Saga Communications in a research report on Tuesday, May 20th. They set a "hold" rating for the company.
Check Out Our Latest Report on Saga Communications
Insider Activity at Saga Communications
In other Saga Communications news, major shareholder Edward K. Christian Trust sold 9,583 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $12.72, for a total transaction of $121,895.76. Following the completion of the transaction, the insider now owns 927,125 shares in the company, valued at $11,793,030. This trade represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 9,991 shares of company stock worth $127,073. 22.40% of the stock is owned by company insiders.
Institutional Investors Weigh In On Saga Communications
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in shares of Saga Communications during the fourth quarter worth approximately $115,000. Aristides Capital LLC boosted its holdings in Saga Communications by 12.1% in the fourth quarter. Aristides Capital LLC now owns 12,160 shares of the company's stock valued at $134,000 after acquiring an additional 1,310 shares in the last quarter. Northern Trust Corp boosted 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 acquiring an additional 1,306 shares in the last quarter. Empowered Funds LLC boosted its holdings 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 buying an additional 1,247 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Saga Communications during the 1st quarter valued at $529,000. 74.28% of the stock is owned by hedge funds and other institutional investors.
Saga Communications Price Performance
Shares of NASDAQ:SGA opened at $12.26 on Tuesday. 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 firm has a market capitalization of $78.98 million, a PE ratio of 17.03 and a beta of 0.27. Saga Communications has a twelve month low of $10.75 and a twelve month high of $16.57. The company has a 50-day moving average price of $11.90 and a two-hundred day moving average price of $11.96.
Saga Communications (NASDAQ:SGA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.08. Saga Communications had a net margin of 4.24% and a return on equity of 3.22%. The company had revenue of $24.21 million during the quarter, compared to analyst estimates of $23.00 million. Equities analysts forecast that Saga Communications will post 0.23 EPS for the current year.
Saga Communications Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date is Friday, June 6th. Saga Communications's dividend payout ratio is currently 181.82%.
About Saga Communications
(
Get Free Report)
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.
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