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

Acuitas Investments LLC boosted its stake in Saga Communications, Inc. (NASDAQ:SGA) by 18.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 123,392 shares of the company’s stock after acquiring an additional 19,650 shares during the period. Saga Communications makes up approximately 1.4% of Acuitas Investments LLC’s portfolio, making the stock its 27th largest position. Acuitas Investments LLC’s holdings in Saga Communications were worth $2,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SGA. Significant Wealth Partners LLC purchased a new stake in Saga Communications in the 4th quarter valued at approximately $1,180,000. Citigroup Inc. purchased a new position in shares of Saga Communications during the 3rd quarter worth $50,000. Barclays PLC purchased a new position in shares of Saga Communications during the 3rd quarter worth $47,000. Finally, Arlington Trust Co LLC purchased a new position in shares of Saga Communications during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 74.28% of the company’s stock.

Wall Street Analyst Weigh In

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

Saga Communications Stock Performance

Shares of SGA traded up $0.06 during trading hours on Wednesday, hitting $22.74. The stock had a trading volume of 3,673 shares, compared to its average volume of 15,321. The firm has a market cap of $142.35 million, a P/E ratio of 14.96 and a beta of 0.41. The company’s fifty day simple moving average is $22.92 and its 200 day simple moving average is $22.16. Saga Communications, Inc. has a 12-month low of $18.89 and a 12-month high of $27.00.

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

Saga Communications Cuts Dividend

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

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.