Saga Communications (NASDAQ:SGA) Trading Down 3.8% - What's Next?

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) shares fell 3.8% during trading on Wednesday . The stock traded as low as $14.31 and last traded at $14.31. 17,529 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 15,534 shares. The stock had previously closed at $14.87.

Saga Communications Stock Down 2.1 %

The stock has a fifty day moving average price of $14.52 and a two-hundred day moving average price of $16.60. The firm has a market capitalization of $87.74 million, a P/E ratio of 12.68 and a beta of 0.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 2.69.

Saga Communications (NASDAQ:SGA - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.23). The company had revenue of $28.74 million for the quarter. Saga Communications had a return on equity of 4.00% and a net margin of 5.51%. During the same quarter last year, the firm earned $0.55 EPS. Research analysts forecast that Saga Communications, Inc. will post 0.49 EPS for the current year.

Saga Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Wednesday, September 25th were given a $0.25 dividend. The ex-dividend date was Wednesday, September 25th. This represents a $1.00 annualized dividend and a yield of 7.14%. Saga Communications's dividend payout ratio is presently 89.29%.

Institutional Trading of Saga Communications

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in Saga Communications by 5.9% in the second quarter. Renaissance Technologies LLC now owns 122,744 shares of the company's stock worth $1,933,000 after purchasing an additional 6,800 shares during the period. Empowered Funds LLC lifted its holdings in shares of Saga Communications by 37.5% in the first quarter. Empowered Funds LLC now owns 24,250 shares of the company's stock valued at $541,000 after buying an additional 6,614 shares during the period. Marquette Asset Management LLC boosted its stake in Saga Communications by 4.2% during the third quarter. Marquette Asset Management LLC now owns 22,111 shares of the company's stock valued at $318,000 after buying an additional 894 shares in the last quarter. Aristides Capital LLC raised its position in Saga Communications by 12.7% in the second quarter. Aristides Capital LLC now owns 10,850 shares of the company's stock worth $171,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Saga Communications by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 361,325 shares of the company's stock valued at $5,691,000 after purchasing an additional 4,015 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

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.