Ashton Thomas Private Wealth LLC Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

Ashton Thomas Private Wealth LLC bought a new stake in SBA Communications Co. (NASDAQ:SBAC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 304 shares of the technology company’s stock, valued at approximately $60,000.

A number of other large investors also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its holdings in shares of SBA Communications by 8.3% during the 4th quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock worth $605,000 after acquiring an additional 183 shares during the period. Private Advisor Group LLC lifted its stake in SBA Communications by 5.9% during the fourth quarter. Private Advisor Group LLC now owns 1,570 shares of the technology company’s stock worth $398,000 after purchasing an additional 88 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of SBA Communications by 13.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,212 shares of the technology company’s stock valued at $307,000 after purchasing an additional 140 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of SBA Communications by 27.8% during the 4th quarter. Panagora Asset Management Inc. now owns 2,993 shares of the technology company’s stock worth $759,000 after buying an additional 651 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of SBA Communications by 17.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 48,933 shares of the technology company’s stock worth $12,414,000 after buying an additional 7,401 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 1.3 %

SBAC stock opened at $242.95 on Monday. The company’s fifty day simple moving average is $220.11 and its 200 day simple moving average is $208.17. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market cap of $26.11 billion, a price-to-earnings ratio of 47.64, a PEG ratio of 0.74 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate 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 business had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. During the same quarter in the previous year, the company earned $3.24 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

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

Insider Transactions at SBA Communications

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 legal filing with the SEC, which is accessible through the SEC website. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction on 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 directly owns 8,084 shares in the company, valued at $1,775,084.72. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of recent analyst reports. TD Cowen decreased 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. Wells Fargo & Company cut shares of SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a research report on Monday, July 1st. They issued a “neutral” rating and a $212.00 target price on the stock. KeyCorp upped their price target on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

SBA Communications 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.