SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Entropy Technologies LP

Entropy Technologies LP increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 17,824 shares of the technology company’s stock after acquiring an additional 707 shares during the period. Entropy Technologies LP’s holdings in SBA Communications were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its stake in shares of SBA Communications by 23.7% in the third quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company’s stock valued at $82,000 after purchasing an additional 65 shares during the period. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the 3rd quarter worth $26,000. Legacy Capital Wealth Partners LLC increased its holdings in shares of SBA Communications by 100.6% during the third quarter. Legacy Capital Wealth Partners LLC now owns 3,497 shares of the technology company’s stock valued at $842,000 after purchasing an additional 1,754 shares during the period. Sustainable Insight Capital Management LLC raised its stake in shares of SBA Communications by 80.2% during the third quarter. Sustainable Insight Capital Management LLC now owns 2,342 shares of the technology company’s stock valued at $564,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in SBA Communications by 4,633.3% in the third quarter. Assetmark Inc. now owns 426 shares of the technology company’s stock worth $103,000 after purchasing an additional 417 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBAC has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets lifted their price target on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Royal Bank of Canada raised their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Price Performance

NASDAQ SBAC opened at $220.19 on Tuesday. The company has a 50 day simple moving average of $237.64 and a 200-day simple moving average of $215.67. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm has a market capitalization of $23.68 billion, a price-to-earnings ratio of 34.73, a price-to-earnings-growth ratio of 0.76 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.34 EPS. On average, analysts predict that SBA Communications Co. will post 12.56 EPS for the current 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 given a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.78%. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Transactions at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction dated 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 directly owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director George R. Krouse, Jr. sold 325 shares of the firm’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 sale, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. 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 the firm’s 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 completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently 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.