Saga Communications (NASDAQ:SGA) Shares Up 1% - Here's What Happened

Key Points

• Saga Communications shares increased by 1% to $12.44, despite a significant decline in trading volume, down 85% compared to the average.
• In its latest earnings report, the company reported earnings of $0.18 per share, which fell short of analysts' expectations of $0.19, with revenues of $28.23 million for the quarter.
• The company announced a quarterly dividend of $0.25, resulting in an annualized dividend yield of 8.0%, although this comes with a high dividend payout ratio of 303.03%.

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report)'s share price traded up 1% during mid-day trading on Tuesday . The company traded as high as $12.88 and last traded at $12.44. 1,000 shares were traded during mid-day trading, a decline of 85% from the average session volume of 6,532 shares. The stock had previously closed at $12.32.

Saga Communications Trading Up 1.0%

The company's 50-day moving average is $12.59 and its 200-day moving average is $12.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.76 and a current ratio of 2.76. The firm has a market cap of $80.11 million, a price-to-earnings ratio of 37.70 and a beta of 0.35.

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

Saga Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, August 26th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend was Tuesday, August 26th. Saga Communications's dividend payout ratio (DPR) is 303.03%.

Insider Buying and Selling at Saga Communications

In other news, major shareholder Edward K. Christian Trust sold 3,017 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $13.50, for a total transaction of $40,729.50. Following the transaction, the insider owned 902,386 shares of the company's stock, valued at $12,182,211. This represents a 0.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 24,248 shares of company stock worth $323,103 in the last ninety days. Insiders own 21.90% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SGA. Osaic Holdings Inc. grew its position 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. Empowered Funds LLC boosted its stake in Saga Communications by 6.2% in the first quarter. Empowered Funds LLC now owns 30,406 shares of the company's stock valued at $379,000 after acquiring an additional 1,769 shares during the last quarter. Mork Capital Management LLC grew its holdings in Saga Communications by 100.0% during the 1st quarter. Mork Capital Management LLC now owns 50,000 shares of the company's stock worth $624,000 after acquiring an additional 25,000 shares during the period. Nuveen LLC bought a new stake in shares of Saga Communications during the 1st quarter valued at $529,000. Finally, Peapod Lane Capital LLC lifted its stake in shares of Saga Communications by 34.2% in the 1st quarter. Peapod Lane Capital LLC now owns 203,707 shares of the company's stock valued at $2,540,000 after purchasing an additional 51,884 shares during the period. 74.28% of the stock is currently owned by institutional investors and hedge funds.

Saga Communications Company Profile

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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