Saga Communications, Inc. (NASDAQ:SGA) Short Interest Down 13.6% in December

Saga Communications, Inc. (NASDAQ:SGA) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 12,100 shares, a decrease of 13.6% from the December 15th total of 14,000 shares. Based on an average daily trading volume, of 23,100 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the company’s stock are sold short.

Saga Communications Stock Performance

SGA stock traded up $0.31 during midday trading on Friday, hitting $11.94. The company’s stock had a trading volume of 19,939 shares, compared to its average volume of 39,337. The stock has a market cap of $74.74 million, a price-to-earnings ratio of 16.58 and a beta of 0.26. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $12.00 and its 200 day moving average price is $13.79. Saga Communications has a 1 year low of $10.75 and a 1 year high of $24.70.

Saga Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 8.38%. Saga Communications’s payout ratio is currently 138.89%.

Insider Activity at Saga Communications

In other Saga Communications news, major shareholder Gate City Capital Management, bought 240,609 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were purchased at an average price of $11.25 per share, for a total transaction of $2,706,851.25. Following the purchase, the insider now directly owns 863,845 shares of the company’s stock, valued at approximately $9,718,256.25. This represents a 38.61 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.90% of the stock is currently owned by insiders.

Institutional Trading of Saga Communications

Large investors have recently added to or reduced their stakes in the stock. Aristides Capital LLC lifted its position in shares of Saga Communications by 12.7% during the 2nd quarter. Aristides Capital LLC now owns 10,850 shares of the company’s stock valued at $171,000 after buying an additional 1,220 shares during the last quarter. Marquette Asset Management LLC raised its stake in Saga Communications by 4.2% in the 3rd quarter. Marquette Asset Management LLC now owns 22,111 shares of the company’s stock valued at $318,000 after acquiring an additional 894 shares during the period. Krilogy Financial LLC purchased a new stake in Saga Communications during the fourth quarter valued at about $265,000. Empowered Funds LLC boosted its position in Saga Communications by 5.1% during the third quarter. Empowered Funds LLC now owns 27,390 shares of the company’s stock worth $393,000 after purchasing an additional 1,340 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Saga Communications by 5.9% in the third quarter. Geode Capital Management LLC now owns 53,679 shares of the company’s stock worth $771,000 after purchasing an additional 2,986 shares in the last quarter. Hedge funds and other institutional investors own 74.28% of the company’s stock.

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.