CKW Financial Group Takes $56,000 Position in SBA Communications Co. (NASDAQ:SBAC)

CKW Financial Group bought a new stake in SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 275 shares of the technology company’s stock, valued at approximately $56,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in SBA Communications by 1.8% during the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after buying an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. grew its position in SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after buying an additional 605,872 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in SBA Communications by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock worth $305,637,000 after buying an additional 62,555 shares in the last quarter. Victory Capital Management Inc. grew its position in SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after buying an additional 1,174,469 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after buying an additional 700,791 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SBAC shares. JMP Securities started coverage on SBA Communications in a report on Monday. They issued an “outperform” rating and a $250.00 target price on the stock. Raymond James raised their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. KeyCorp raised their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their target price on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday. Four 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.29.

SBA Communications Stock Performance

Shares of SBAC opened at $196.83 on Monday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The stock has a market capitalization of $21.16 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 0.70 and a beta of 0.69. The stock has a fifty day moving average of $209.38 and a 200-day moving average of $221.84.

SBA Communications (NASDAQ:SBAC) last announced its earnings results 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). The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.34 earnings per share. As a group, equities analysts forecast that SBA Communications Co. will post 12.57 EPS for the current year.

Insider Buying and Selling

In related news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.