Ashton Thomas Private Wealth LLC Purchases 3,120 Shares of SBA Communications Co. (NASDAQ:SBAC)

Ashton Thomas Private Wealth LLC lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 1,026.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,424 shares of the technology company's stock after buying an additional 3,120 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in SBA Communications were worth $824,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company's stock worth $127,000 after buying an additional 51 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company's stock worth $1,819,000 after acquiring an additional 53 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after acquiring an additional 53 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company's stock valued at $286,000 after purchasing an additional 57 shares during the period. Finally, Industrial Alliance Investment Management Inc. increased its stake in SBA Communications by 3.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company's stock valued at $338,000 after purchasing an additional 58 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SBAC. Raymond James lifted their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, October 29th. The Goldman Sachs Group boosted their target price on SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Barclays increased their price target on SBA Communications from $236.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. KeyCorp lifted their price objective on SBA Communications from $230.00 to $280.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Finally, TD Cowen increased their target price on SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $257.23.

Insider Activity

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 4,998 shares of the company's stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company'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 value of $364,290.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George R. Krouse, Jr. sold 325 shares of the firm'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 value of $71,363.50. Following the completion of the sale, the director now directly 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. 1.30% of the stock is currently owned by insiders.

SBA Communications Stock Performance

SBA Communications stock traded up $0.89 during mid-day trading on Thursday, reaching $219.40. The company's stock had a trading volume of 591,507 shares, compared to its average volume of 926,487. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The business's 50 day simple moving average is $237.00 and its 200 day simple moving average is $216.01. The company has a market capitalization of $23.59 billion, a price-to-earnings ratio of 34.47, a price-to-earnings-growth ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $669.29 million. During the same quarter in the previous year, the business earned $3.34 EPS. SBA Communications's revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's payout ratio is presently 61.83%.

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.