Ashton Thomas Private Wealth LLC Buys 3,315 Shares of SBA Communications Corporation $SBAC

Ashton Thomas Private Wealth LLC boosted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 51.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,769 shares of the technology company’s stock after acquiring an additional 3,315 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in SBA Communications were worth $1,564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CenterBook Partners LP boosted its holdings in shares of SBA Communications by 94.9% in the third quarter. CenterBook Partners LP now owns 5,674 shares of the technology company’s stock valued at $909,000 after acquiring an additional 2,763 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of SBA Communications by 147.6% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 10,193 shares of the technology company’s stock valued at $1,883,000 after acquiring an additional 6,077 shares during the period. Rakuten Investment Management Inc. increased its holdings in shares of SBA Communications by 9.9% in the 3rd quarter. Rakuten Investment Management Inc. now owns 19,040 shares of the technology company’s stock valued at $3,100,000 after acquiring an additional 1,708 shares during the period. Provenance Wealth Advisors LLC acquired a new position in shares of SBA Communications in the 3rd quarter valued at $36,000. Finally, Gerber Kawasaki Wealth & Investment Management raised its position in SBA Communications by 26.3% in the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,469 shares of the technology company’s stock valued at $235,000 after purchasing an additional 306 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director George R. Krouse, Jr. sold 300 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $182.67, for a total transaction of $54,801.00. Following the sale, the director owned 8,512 shares in the company, valued at approximately $1,554,887.04. This trade represents a 3.40% 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. Insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of SBA Communications to a “hold” rating in a research note on Thursday, October 15th. UBS Group lowered shares of SBA Communications from a “market perform” rating to a “hold” rating in a research note on Monday, August 24th. BMO Capital Markets restated a “market perform” rating on shares of SBA Communications in a research note on Monday, August 24th. Citigroup reaffirmed a “market outperform” rating on shares of SBA Communications in a report on Tuesday, November 3rd. Finally, Barclays decreased their target price on shares of SBA Communications from $208.00 to $207.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $224.64.

SBA Communications Trading Up 0.5%

Shares of NASDAQ SBAC opened at $190.35 on Tuesday. The company’s 50-day moving average price is $179.79 and its 200 day moving average price is $190.02. SBA Communications Corporation has a 52 week low of $156.60 and a 52 week high of $224.46. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.96 and a beta of 0.97.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, November 2nd. The technology company reported $2.19 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.10. The business had revenue of $713.92 million for the quarter, compared to analyst estimates of $724.07 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.54%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.30 earnings per share. As a group, research analysts expect that SBA Communications Corporation will post 11.45 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 12th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, November 12th. SBA Communications’s payout ratio is currently 53.94%.

SBA Communications Company Profile