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

by · The Cerbat Gem

Saga Communications, Inc. (NASDAQ:SGA – Get Free Report) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 9,979 shares, a growth of 136.1% from the August 31st total of 4,227 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 13,634 shares, the days-to-cover ratio is currently 0.7 days.

Saga Communications Price Performance

Shares of NASDAQ:SGA traded down $0.29 during trading on Monday, reaching $8.31. 26,514 shares of the company were exchanged, compared to its average volume of 12,992. The firm has a market capitalization of $52.85 million, a PE ratio of -6.02 and a beta of -0.11. The business’s fifty day simple moving average is $9.09 and its 200-day simple moving average is $9.86. Saga Communications has a 12-month low of $8.24 and a 12-month high of $13.19.

Saga Communications (NASDAQ:SGA – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.33. Saga Communications had a negative net margin of 8.55% and a positive return on equity of 3.87%. The firm had revenue of $26.40 million during the quarter, compared to the consensus estimate of $25.50 million.

Saga Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Wednesday, September 23rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 12.0%. Saga Communications’s payout ratio is -72.46%.

Hedge Funds Weigh In On Saga Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Saga Communications by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 350,655 shares of the company’s stock valued at $4,103,000 after acquiring an additional 1,393 shares in the last quarter. Empowered Funds LLC grew its holdings in Saga Communications by 6.3% during the 1st quarter. Empowered Funds LLC now owns 35,972 shares of the company’s stock worth $421,000 after acquiring an additional 2,121 shares in the last quarter. Finally, Marquette Asset Management LLC bought a new position in Saga Communications during the 2nd quarter worth about $257,000. Institutional investors own 74.28% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Saga Communications in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Check Out Our Latest Stock Report on SGA

About Saga Communications

(Get Free Report)

Saga Communications, Inc is a radio broadcasting company that owns and operates radio stations in markets across the United States. Its stations provide locally focused programming, including news, talk, sports, and music formats, and generate revenue primarily through the sale of advertising and related promotional services.

In addition to traditional AM and FM broadcasting, Saga’s operations include digital media and other services intended to help advertisers reach local audiences across multiple platforms.

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