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

Key Points

• Saga Communications experienced a significant increase in short interest, with totals rising by 28.3% in August to 7,700 shares.
• The company recently reported $0.18 EPS, falling short of analyst estimates, while also announcing a quarterly dividend of $0.25 per share.
• Insiders have sold a total of 36,468 shares worth approximately $482,798 over the last three months, indicating potential shifts in shareholder confidence.

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) was the target of a significant growth in short interest in August. As of August 15th, there was short interest totaling 7,700 shares, a growth of 28.3% from the July 31st total of 6,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 9,700 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 9,700 shares, the short-interest ratio is currently 0.8 days. Currently, 0.2% of the shares of the stock are short sold.

Saga Communications Trading Up 0.1%

Shares of SGA traded up $0.01 on Thursday, hitting $12.04. 3,969 shares of the stock traded hands, compared to its average volume of 10,247. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $77.54 million, a P/E ratio of 36.48 and a beta of 0.35. Saga Communications has a 1 year low of $10.75 and a 1 year high of $15.10. The stock's 50 day moving average is $12.86 and its two-hundred day moving average is $12.30.

Saga Communications (NASDAQ:SGA - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.01). Saga Communications had a net margin of 1.91% and a return on equity of 1.27%. The business had revenue of $28.23 million during the quarter, compared to analysts' expectations of $28.55 million. As a group, sell-side analysts predict that Saga Communications will post 0.23 earnings per share for the current year.

Saga Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date is Tuesday, August 26th. Saga Communications's payout ratio is 303.03%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on Saga Communications in a research report on Tuesday, May 20th. They issued a "hold" rating for the company.

Insider Activity at Saga Communications

In other news, major shareholder Edward K. Christian Trust sold 3,017 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $13.50, for a total transaction of $40,729.50. Following the completion of the sale, the insider owned 902,386 shares of the company's stock, valued at $12,182,211. The trade was a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 36,093 shares of company stock worth $478,039 over the last three months. 22.40% of the stock is owned by insiders.

Institutional Trading of Saga Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in SGA. Northern Trust Corp increased its stake in Saga Communications by 10.4% in the 4th 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. Empowered Funds LLC boosted its holdings in shares of Saga Communications by 6.2% during the 1st quarter. Empowered Funds LLC now owns 30,406 shares of the company's stock worth $379,000 after buying an additional 1,769 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Saga Communications by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company's stock worth $3,914,000 after buying an additional 1,770 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Saga Communications by 256.7% during the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company's stock worth $52,000 after buying an additional 2,867 shares during the period. Finally, Jane Street Group LLC bought a new stake in Saga Communications in the 4th quarter valued at $115,000. 74.28% of the stock is currently owned by 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.