SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its stake in SBA Communications Co. (NASDAQ:SBAC) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,013 shares of the technology company’s stock after selling 68 shares during the period. Marks Group Wealth Management Inc’s holdings in SBA Communications were worth $244,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SBAC. Thurston Springer Miller Herd & Titak Inc. raised its stake in SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after purchasing an additional 51 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after buying an additional 53 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares during the period. Checchi Capital Advisers LLC raised its position in shares of SBA Communications by 4.1% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after buying an additional 57 shares during the period. Finally, Industrial Alliance Investment Management Inc. boosted its holdings in SBA Communications by 3.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after acquiring an additional 58 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SBAC shares. Wells Fargo & Company raised their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. TD Cowen raised their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. BMO Capital Markets boosted their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Barclays raised their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Raymond James upped their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Stock Down 4.2 %

SBAC stock opened at $218.75 on Thursday. The company has a market capitalization of $23.51 billion, a PE ratio of 34.50, a P/E/G ratio of 0.68 and a beta of 0.68. The stock’s 50 day moving average is $237.80 and its two-hundred day moving average is $215.20. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.34 earnings per share. As a group, sell-side analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.