Saga Communications, Inc. (NASDAQ:SGA) Shares Purchased by Acuitas Investments LLC

Acuitas Investments LLC lifted its stake in Saga Communications, Inc. (NASDAQ:SGA) by 18.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 123,392 shares of the company’s stock after purchasing an additional 19,650 shares during the quarter. Saga Communications comprises about 1.4% of Acuitas Investments LLC’s holdings, making the stock its 27th largest holding. Acuitas Investments LLC owned 2.02% of Saga Communications worth $2,747,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Significant Wealth Partners LLC purchased a new position in Saga Communications in the fourth quarter worth approximately $1,180,000. Arlington Trust Co LLC purchased a new position in Saga Communications in the fourth quarter worth approximately $45,000. Citigroup Inc. purchased a new position in Saga Communications in the third quarter worth approximately $50,000. Finally, Barclays PLC purchased a new position in Saga Communications in the third quarter worth approximately $47,000. Institutional investors and hedge funds own 74.28% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Saga Communications from a “buy” rating to a “hold” rating in a research report on Friday, January 26th.

Saga Communications Stock Performance

Shares of SGA traded up $0.06 during midday trading on Wednesday, hitting $22.74. 3,673 shares of the stock were exchanged, compared to its average volume of 15,321. Saga Communications, Inc. has a 52-week low of $18.89 and a 52-week high of $27.00. The stock has a fifty day simple moving average of $22.92 and a 200 day simple moving average of $22.16. The firm has a market cap of $142.35 million, a P/E ratio of 14.96 and a beta of 0.41.

Saga Communications (NASDAQ:SGA) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.31 by $0.06. Saga Communications had a return on equity of 5.34% and a net margin of 8.42%. The business had revenue of $29.15 million during the quarter, compared to analyst estimates of $28.50 million. As a group, equities research analysts forecast that Saga Communications, Inc. will post 1.65 EPS for the current fiscal year.

Saga Communications Cuts Dividend

The company also recently declared a None dividend, which was paid on Friday, April 5th. Stockholders of record on Monday, March 18th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, March 15th. Saga Communications’s dividend payout ratio is currently 65.79%.

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.