Assetmark Inc. Has $103,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Assetmark Inc. increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 4,633.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 426 shares of the technology company’s stock after acquiring an additional 417 shares during the period. Assetmark Inc.’s holdings in SBA Communications were worth $103,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SBAC. Diamond Hill Capital Management Inc. lifted its stake in SBA Communications by 13.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock valued at $387,470,000 after acquiring an additional 233,179 shares during the last quarter. American Century Companies Inc. lifted its stake in SBA Communications by 15.5% in the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after acquiring an additional 159,433 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in SBA Communications by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock valued at $213,773,000 after acquiring an additional 33,507 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in SBA Communications by 34.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 792,147 shares of the technology company’s stock valued at $155,498,000 after acquiring an additional 203,938 shares during the last quarter. Finally, Earnest Partners LLC lifted its stake in SBA Communications by 2.1% in the second quarter. Earnest Partners LLC now owns 710,198 shares of the technology company’s stock valued at $139,412,000 after acquiring an additional 14,926 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $221.09 on Monday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The firm has a market cap of $23.77 billion, a price-to-earnings ratio of 34.87, a P/E/G ratio of 0.75 and a beta of 0.68. The firm’s 50-day simple moving average is $236.35 and its 200 day simple moving average is $216.56.

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

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on 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 directly owns 8,084 shares in the company, valued at $1,775,084.72. This trade represents a 3.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 23.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SBAC. KeyCorp increased their price target on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays increased their price target 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. Wells Fargo & Company raised their target price on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada raised their target price on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

About SBA Communications

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.