Significant Wealth Partners LLC Makes New $1.18 Million Investment in Saga Communications, Inc. (NASDAQ:SGA)

Significant Wealth Partners LLC acquired a new position in Saga Communications, Inc. (NASDAQ:SGA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 53,004 shares of the company's stock, valued at approximately $1,180,000. Significant Wealth Partners LLC owned 0.87% of Saga Communications as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new stake in Saga Communications in the fourth quarter worth about $45,000. Barclays PLC bought a new stake in Saga Communications in the third quarter worth about $47,000. Finally, Citigroup Inc. purchased a new position in shares of Saga Communications in the third quarter worth about $50,000. Institutional investors own 74.28% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Saga Communications from a "buy" rating to a "hold" rating in a research note on Friday, January 26th.

Saga Communications Price Performance

Shares of SGA traded down $0.06 during trading hours on Monday, hitting $22.70. The company's stock had a trading volume of 7,716 shares, compared to its average volume of 15,624. The company has a market cap of $142.10 million, a price-to-earnings ratio of 14.93 and a beta of 0.41. The business has a 50 day simple moving average of $22.94 and a two-hundred day simple moving average of $22.14. Saga Communications, Inc. has a 52-week low of $18.89 and a 52-week high of $27.00.

Saga Communications (NASDAQ:SGA - Get Free Report) last posted 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 firm had revenue of $29.15 million during the quarter, compared to the consensus estimate of $28.50 million. Saga Communications had a net margin of 8.42% and a return on equity of 5.34%. Research analysts predict that Saga Communications, Inc. will post 1.65 earnings per share for the current year.

Saga Communications Cuts Dividend

The company also recently disclosed a None dividend, which was paid on Friday, April 5th. Investors of record on Monday, March 18th were paid a dividend of $0.60 per share. The ex-dividend date 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.