Friedenthal Financial Makes New $50,000 Investment in SBA Communications Co. (NASDAQ:SBAC)

Friedenthal Financial bought a new position in SBA Communications Co. (NASDAQ:SBAC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 206 shares of the technology company’s stock, valued at approximately $50,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in SBA Communications by 191.3% during the 1st quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after purchasing an additional 16,962 shares during the period. Wellington Management Group LLP increased its position in SBA Communications by 596.2% during the fourth quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after acquiring an additional 192,791 shares during the last quarter. FORA Capital LLC bought a new position in SBA Communications during the 1st quarter valued at about $4,872,000. Virtu Financial LLC purchased a new stake in shares of SBA Communications in the first quarter worth approximately $1,764,000. Finally, Easterly Investment Partners LLC purchased a new stake in SBA Communications in the first quarter worth $1,412,000. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction 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 directly owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock valued at $11,483,981 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $247.47 on Friday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The firm has a fifty day moving average price of $234.22 and a 200 day moving average price of $212.52. The stock has a market cap of $26.59 billion, a PE ratio of 48.52, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The business had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted $3.24 earnings per share. As a group, equities analysts expect that SBA Communications Co. will post 12.52 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.58%. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SBAC shares. KeyCorp boosted their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. TD Cowen dropped their price objective on SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Morgan Stanley upped their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company raised their price target on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $251.58.

SBA Communications 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.