Ashton Thomas Private Wealth LLC Has $824,000 Holdings in SBA Communications Co. (NASDAQ:SBAC)

Ashton Thomas Private Wealth LLC increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 1,026.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,424 shares of the technology company’s stock after purchasing an additional 3,120 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in SBA Communications were worth $824,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications during the 3rd quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in SBA Communications during the second quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in SBA Communications in the third quarter valued at approximately $35,000. Family Firm Inc. acquired a new position in shares of SBA Communications during the 2nd quarter worth approximately $36,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications during the 2nd quarter worth approximately $49,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBAC opened at $218.51 on Thursday. The stock has a fifty day moving average of $237.29 and a 200-day moving average of $215.99. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The company has a market capitalization of $23.49 billion, a P/E ratio of 34.47, a P/E/G ratio of 0.74 and a beta of 0.68.

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 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 business had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same period in the prior year, the firm earned $3.34 EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 1.79%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Insider Buying and Selling at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the 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 sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were 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 owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Donald Day sold 1,500 shares of SBA Communications 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Raymond James lifted their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. KeyCorp upped their target price on shares of 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 target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Morgan Stanley upped their price objective on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Three equities 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 company’s stock. Based on data from MarketBeat.com, the company 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.