Chicago Partners Investment Group LLC Buys New Stake in SBA Communications Co. (NASDAQ:SBAC)

Chicago Partners Investment Group LLC bought a new stake in SBA Communications Co. (NASDAQ:SBAC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,655 shares of the technology company’s stock, valued at approximately $403,000.

Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in SBA Communications in the second quarter worth $32,000. Family Firm Inc. bought a new stake in shares of SBA Communications during the second quarter worth $36,000. Friedenthal Financial bought a new stake in shares of SBA Communications during the third quarter worth $50,000. Farther Finance Advisors LLC lifted its position in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the last quarter. Finally, Eastern Bank bought a new stake in shares of SBA Communications during the third quarter worth $58,000. 97.35% of the stock is currently owned by institutional investors.

Insider Transactions at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the company’s 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 transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Donald Day sold 1,500 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $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. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their target price on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Raymond James lifted their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays raised their price target on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets raised their price target on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Stock Up 1.4 %

SBA Communications stock opened at $228.77 on Tuesday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The company has a market capitalization of $24.59 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 0.69 and a beta of 0.68. The stock has a 50-day moving average price of $237.98 and a 200 day moving average price of $214.95.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same period in the previous year, the firm posted $3.34 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s payout ratio is presently 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.