Short Interest in Saga Communications, Inc. (NASDAQ:SGA) Decreases By 59.6%

Saga Communications, Inc. (NASDAQ:SGA) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 7,329 shares, a drop of 59.6% from the December 31st total of 18,120 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 17,961 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 17,961 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Saga Communications

Several hedge funds have recently bought and sold shares of SGA. Empowered Funds LLC lifted its stake in Saga Communications by 6.2% in the 1st quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock worth $379,000 after purchasing an additional 1,769 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Saga Communications by 256.7% in the second quarter. Osaic Holdings Inc. now owns 3,984 shares of the company’s stock worth $52,000 after purchasing an additional 2,867 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Saga Communications by 30,720.0% in the third quarter. Bank of America Corp DE now owns 16,951 shares of the company’s stock worth $211,000 after buying an additional 16,896 shares in the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SGA. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Saga Communications in a research report on Thursday, January 22nd. Zacks Research upgraded Saga Communications from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Saga Communications Stock Performance

Shares of SGA stock traded up $0.06 during trading on Thursday, reaching $11.49. 6,227 shares of the company’s stock traded hands, compared to its average volume of 11,749. The firm’s 50-day moving average is $11.49 and its 200 day moving average is $12.19. The company has a market capitalization of $74.00 million, a P/E ratio of 229.80 and a beta of -0.01. Saga Communications has a 1 year low of $10.68 and a 1 year high of $14.27. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.03.

Saga Communications (NASDAQ:SGA) last issued its earnings results on Thursday, November 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.29). The business had revenue of $28.17 million for 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%. Equities research analysts expect 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 was paid on Friday, December 12th. Shareholders of record on Monday, November 24th were paid a $0.25 dividend. The ex-dividend date was Monday, November 24th. This represents a $1.00 annualized dividend and a yield of 8.7%. Saga Communications’s dividend payout ratio (DPR) is currently 2,000.00%.

Saga Communications Company Profile

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.