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

Saga Communications, Inc. (NASDAQ:SGA) was the target 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. Based on an average daily volume of 17,961 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the shares of the company are short sold. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 17,961 shares, the short-interest ratio is currently 0.4 days.

Saga Communications Price Performance

Shares of NASDAQ SGA traded up $0.06 during trading hours on Thursday, hitting $11.49. 6,227 shares of the stock were exchanged, compared to its average volume of 11,749. The company has a market cap of $74.00 million, a PE ratio of 229.80 and a beta of -0.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.74 and a current ratio of 2.74. The company’s fifty day simple moving average is $11.49 and its two-hundred day simple moving average is $12.19. Saga Communications has a 1-year low of $10.68 and a 1-year high of $14.27.

Saga Communications (NASDAQ:SGA) last released its quarterly earnings data 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). Saga Communications had a return on equity of 0.18% and a net margin of 0.27%.The company had revenue of $28.17 million for the quarter, compared to analyst estimates of $28.30 million. On average, sell-side analysts predict that Saga Communications will post 0.23 EPS for the current year.

Saga Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 24th were given a dividend of $0.25 per share. 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%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Saga Communications

Large investors have recently modified their holdings of the business. Empowered Funds LLC raised its position in Saga Communications by 6.2% in the 1st quarter. Empowered Funds LLC now owns 30,406 shares of the company’s stock valued at $379,000 after buying an additional 1,769 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Saga Communications by 30,720.0% in 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. Finally, Osaic Holdings Inc. raised 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 valued at $52,000 after purchasing an additional 2,867 shares during the last quarter. Institutional investors own 74.28% of the company’s stock.

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.