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

Saga Communications, Inc. (NASDAQ:SGA) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 8,100 shares, a decline of 60.7% from the January 31st total of 20,600 shares. Based on an average daily trading volume, of 23,500 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the shares of the stock are sold short.

Insider Transactions at Saga Communications

In related news, major shareholder Edward K. Christian Trust sold 5,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $12.56, for a total value of $62,800.00. Following the completion of the transaction, the insider now owns 938,250 shares in the company, valued at $11,784,420. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Gate City Capital Management, purchased 240,609 shares of Saga Communications stock in a transaction that occurred on Tuesday, December 31st. The stock was purchased at an average price of $11.25 per share, with a total value of $2,706,851.25. Following the transaction, the insider now owns 863,845 shares in the company, valued at $9,718,256.25. This represents a 38.61 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 15,943 shares of company stock valued at $200,590. Corporate insiders own 21.90% of the company’s stock.

Institutional Trading of Saga Communications

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gate City Capital Management LLC grew its stake in shares of Saga Communications by 94.5% in the fourth quarter. Gate City Capital Management LLC now owns 863,845 shares of the company’s stock worth $9,528,000 after acquiring an additional 419,714 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Saga Communications by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 354,831 shares of the company’s stock worth $3,914,000 after purchasing an additional 1,770 shares during the last quarter. Peapod Lane Capital LLC bought a new position in shares of Saga Communications during the 4th quarter worth about $1,675,000. Bridgeway Capital Management LLC increased its holdings in shares of Saga Communications by 1.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 78,053 shares of the company’s stock worth $861,000 after purchasing an additional 847 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Saga Communications by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 58,432 shares of the company’s stock valued at $645,000 after buying an additional 4,753 shares during the period. 74.28% of the stock is currently owned by institutional investors and hedge funds.

Saga Communications Stock Down 0.5 %

Shares of Saga Communications stock traded down $0.06 during trading on Friday, hitting $11.25. 6,164 shares of the stock traded hands, compared to its average volume of 15,686. The stock has a market cap of $70.44 million, a P/E ratio of 15.63 and a beta of 0.27. The company has a fifty day moving average price of $11.97 and a two-hundred day moving average price of $13.17. Saga Communications has a twelve month low of $10.75 and a twelve month high of $24.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.64 and a current ratio of 2.64.

Saga Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Tuesday, February 18th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.00 annualized dividend and a yield of 8.89%. Saga Communications’s dividend payout ratio (DPR) is currently 138.89%.

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.