Choreo LLC Makes New $635,000 Investment in SBA Communications Co. (NASDAQ:SBAC)

Choreo LLC acquired a new stake in SBA Communications Co. (NASDAQ:SBAC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,316 shares of the technology company’s stock, valued at approximately $635,000.

Other hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of SBA Communications during the 2nd quarter valued at $32,000. Quarry LP grew its holdings in SBA Communications by 400.0% during the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after acquiring an additional 132 shares during the period. Family Firm Inc. bought a new stake in SBA Communications in the second quarter worth about $36,000. Versant Capital Management Inc lifted its holdings in SBA Communications by 4,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after acquiring an additional 270 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of SBA Communications during the 2nd quarter valued at about $60,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on SBAC shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Royal Bank of Canada raised their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. TD Cowen cut their target price on SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Barclays cut their price objective on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $237.92.

SBA Communications Stock Up 1.3 %

Shares of NASDAQ:SBAC opened at $242.95 on Friday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market capitalization of $26.11 billion, a P/E ratio of 47.64, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. The firm has a fifty day moving average of $220.11 and a two-hundred day moving average of $208.15.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter last year, the firm earned $3.24 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insiders Place Their Bets

In related news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.