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

Saga Communications, Inc. (NASDAQ:SGA) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 18,120 shares, an increase of 68.7% from the December 15th total of 10,739 shares. Based on an average trading volume of 10,876 shares, the short-interest ratio is currently 1.7 days. Approximately 0.4% of the company’s stock are sold short. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 10,876 shares, the short-interest ratio is currently 1.7 days.

Saga Communications Stock Performance

NASDAQ SGA opened at $11.31 on Friday. The firm has a market capitalization of $72.84 million, a P/E ratio of 226.20 and a beta of -0.01. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average price is $11.61 and its two-hundred day moving average price is $12.31. Saga Communications has a 1 year low of $10.68 and a 1 year high of $14.27.

Saga Communications (NASDAQ:SGA) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.29). The firm had revenue of $28.17 million during the quarter, compared to the consensus estimate of $28.30 million. Saga Communications had a net margin of 0.27% and a return on equity of 0.18%. As a group, research analysts anticipate that Saga Communications will post 0.23 EPS for the current year.

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Monday, November 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend was Monday, November 24th. Saga Communications’s dividend payout ratio (DPR) is presently 2,000.00%.

Institutional Investors Weigh In On Saga Communications

A number of large investors have recently added to or reduced their stakes in SGA. Empowered Funds LLC grew its stake in Saga Communications by 6.2% during the first quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock worth $379,000 after buying an additional 1,769 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Saga Communications by 256.7% in the 2nd quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock valued at $52,000 after buying an additional 2,867 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Saga Communications by 30,720.0% during the 3rd quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock worth $211,000 after acquiring an additional 16,896 shares in the last quarter. Institutional investors own 74.28% of the company’s stock.

Analyst Upgrades and Downgrades

SGA has been the subject of several recent research reports. Zacks Research raised Saga Communications from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Saga Communications in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

About Saga Communications

Saga Communications, Inc (NASDAQ: SGA) is an independent radio broadcasting company that owns and operates a portfolio of local radio stations across the United States. Headquartered in Grosse Pointe Farms, Michigan, the company focuses on full‐service radio properties offering a variety of formats, including music, news‐talk and sports programming. In addition to traditional over‐the‐air broadcasts, Saga leverages web streaming and mobile platforms to broaden listener reach and provide advertisers with multimedia opportunities.

Founded in 1985 by Edward J.