SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Hantz Financial Services Inc.

Hantz Financial Services Inc. grew its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 14.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,893 shares of the technology company's stock after buying an additional 2,889 shares during the period. Hantz Financial Services Inc.'s holdings in SBA Communications were worth $5,510,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SBAC. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the third quarter valued at $26,000. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications during the 3rd quarter valued at about $35,000. Ridgewood Investments LLC purchased a new stake in shares of SBA Communications in the second quarter worth about $32,000. Family Firm Inc. purchased a new stake in shares of SBA Communications in the second quarter worth about $36,000. Finally, Friedenthal Financial acquired a new stake in SBA Communications during the third quarter worth about $50,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Down 1.0 %

NASDAQ:SBAC traded down $2.26 on Friday, reaching $226.25. 351,601 shares of the company's stock were exchanged, compared to its average volume of 917,920. The business has a fifty day moving average of $232.78 and a 200-day moving average of $218.20. 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 $24.33 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 0.77 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period in the previous year, the firm earned $3.34 earnings per share. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities analysts anticipate that SBA Communications Co. will post 12.56 earnings per share for the current 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 issued a dividend of $0.98 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.73%. SBA Communications's payout ratio is currently 61.83%.

Analysts Set New Price Targets

A number of analysts have recently commented on SBAC shares. TD Cowen boosted their price objective on SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Morgan Stanley lifted their target price on shares of SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. Royal Bank of Canada upped their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd. Finally, StockNews.com upgraded SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $257.23.

Insider Activity at SBA Communications

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 completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 23.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

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.