Saga Communications (NASDAQ:SGA) Trading Down 3.8% – Here’s Why

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

Saga Communications Trading Down 3.8 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.69 and a quick ratio of 2.69. The stock’s 50-day moving average is $14.52 and its two-hundred day moving average is $16.60. The company has a market cap of $89.62 million, a P/E ratio of 12.78 and a beta of 0.26.

Saga Communications (NASDAQ:SGA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.23). Saga Communications had a net margin of 5.51% and a return on equity of 4.00%. The firm had revenue of $28.74 million for the quarter. During the same quarter last year, the firm earned $0.55 earnings per share. As a group, equities research analysts predict that Saga Communications, Inc. will post 0.49 earnings per share for the current fiscal year.

Saga Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, September 25th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.99%. The ex-dividend date was Wednesday, September 25th. Saga Communications’s dividend payout ratio (DPR) is presently 89.29%.

Institutional Trading of Saga Communications

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

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.