Ashton Thomas Securities LLC Invests $26,000 in SBA Communications Co. (NASDAQ:SBAC)

Ashton Thomas Securities LLC bought a new stake in SBA Communications Co. (NASDAQ:SBAC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 107 shares of the technology company’s stock, valued at approximately $26,000.

A number of other large investors also recently made changes to their positions in SBAC. Vanguard Group Inc. grew its holdings in SBA Communications by 0.5% during the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock worth $3,763,691,000 after buying an additional 88,339 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of SBA Communications by 13.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after buying an additional 233,179 shares during the last quarter. American Century Companies Inc. increased its position in shares of SBA Communications by 15.5% during 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 holdings in SBA Communications by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock worth $213,773,000 after acquiring an additional 33,507 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position 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 worth $155,498,000 after purchasing an additional 203,938 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the topic of a number of research analyst reports. Royal Bank of Canada boosted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. BMO Capital Markets lifted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group raised their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Morgan Stanley upped their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

Insiders Place Their Bets

In related news, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $218.47 on Friday. The firm has a fifty day moving average price of $237.00 and a two-hundred day moving average price of $216.01. The company has a market cap of $23.49 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 0.74 and a beta of 0.68. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data 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). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same period in the prior year, the business posted $3.34 EPS. SBA Communications’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

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.