Pathway Financial Advisors LLC Acquires Shares of 885 SBA Communications Co. (NASDAQ:SBAC)

Pathway Financial Advisors LLC bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 885 shares of the technology company’s stock, valued at approximately $213,000.

Other large investors have also modified their holdings of the company. Ridgewood Investments LLC purchased a new position in shares of SBA Communications during the 2nd quarter worth approximately $32,000. Family Firm Inc. purchased a new position in shares of SBA Communications during the 2nd quarter worth approximately $36,000. Quarry LP raised its stake in shares of SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after buying an additional 132 shares in the last quarter. Global X Japan Co. Ltd. purchased a new position in shares of SBA Communications during the 2nd quarter worth approximately $49,000. Finally, Versant Capital Management Inc grew its holdings in shares of SBA Communications by 4,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after acquiring an additional 270 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on SBAC shares. BMO Capital Markets lowered their target price on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. KeyCorp increased their target price on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Morgan Stanley raised their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $244.08.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated 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 transaction, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,590 shares of company stock worth $11,483,981. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

NASDAQ:SBAC opened at $238.62 on Wednesday. The business’s 50-day moving average is $230.36 and its two-hundred day moving average is $210.87. 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 $25.64 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the business earned $3.24 earnings per share. Equities analysts anticipate that SBA Communications Co. will post 12.52 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.98 per share. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.64%. SBA Communications’s dividend payout ratio is presently 76.86%.

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.