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

Marks Group Wealth Management Inc decreased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of SBA Communications by 10.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock valued at $127,000 after acquiring an additional 51 shares during the period. Oregon Public Employees Retirement Fund increased its stake in SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after purchasing an additional 53 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of SBA Communications by 4.1% during the second 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. grew its holdings in shares of SBA Communications by 3.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after buying an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

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 transaction of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares of the company’s stock, 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 is accessible through this link. In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred 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 completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $218.75 on Thursday. The stock has a fifty day moving average price of $237.80 and a 200 day moving average price of $215.20. The stock has a market cap of $23.51 billion, a PE ratio of 34.50, a P/E/G ratio of 0.68 and a beta of 0.68. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76.

SBA Communications (NASDAQ:SBAC) last released 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 firm had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm earned $3.34 EPS. As a group, equities research analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.79%. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Analyst Upgrades and Downgrades

SBAC has been the subject of several analyst reports. BMO Capital Markets upped their price objective on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Barclays upped their price target on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Morgan Stanley lifted their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average price target 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.