Saga Communications, Inc. (NASDAQ:SGA) Sees Significant Increase in Short Interest

Saga Communications, Inc. (NASDAQ:SGA - Get Free Report) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 12,600 shares, an increase of 113.6% from the February 28th total of 5,900 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 22,800 shares, the short-interest ratio is currently 0.6 days.

Saga Communications Price Performance

NASDAQ:SGA traded down $0.23 during mid-day trading on Tuesday, hitting $12.25. 5,099 shares of the stock traded hands, compared to its average volume of 17,226. Saga Communications has a 12-month low of $10.75 and a 12-month high of $23.56. 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 company has a market cap of $76.67 million, a PE ratio of 16.93 and a beta of 0.27. The business's 50-day moving average price is $12.16 and its 200 day moving average price is $12.72.

Saga Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Tuesday, February 18th were given a $0.25 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.00 annualized dividend and a yield of 8.17%. Saga Communications's dividend payout ratio (DPR) is presently 181.82%.

Insider Buying and Selling

In other Saga Communications news, major shareholder Edward K. Christian Trust sold 5,651 shares of Saga Communications stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $12.72, for a total transaction of $71,880.72. Following the completion of the transaction, the insider now owns 945,000 shares of the company's stock, valued at $12,020,400. The trade was a 0.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 15,400 shares of company stock valued at $193,575. Company insiders own 21.90% of the company's stock.

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Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Saga Communications by 5.9% in the 3rd 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. Krilogy Financial LLC purchased a new position in shares of Saga Communications during the fourth quarter worth approximately $265,000. Empowered Funds LLC boosted its stake in shares of Saga Communications by 4.6% in the 4th quarter. Empowered Funds LLC now owns 28,637 shares of the company's stock valued at $316,000 after purchasing an additional 1,247 shares in the last quarter. Peapod Lane Capital LLC bought a new position in shares of Saga Communications during the 4th quarter valued at $1,675,000. Finally, Jane Street Group LLC purchased a new position in Saga Communications in the 4th quarter worth $115,000. Institutional investors own 74.28% of the company's stock.

About Saga Communications

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.