Exchange Traded Concepts LLC Invests $80,000 in SBA Communications Co. (NASDAQ:SBAC)

Exchange Traded Concepts LLC purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 332 shares of the technology company’s stock, valued at approximately $80,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt grew its stake in SBA Communications by 278.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 852 shares of the technology company’s stock valued at $205,000 after acquiring an additional 627 shares during the last quarter. CWM LLC grew its stake in SBA Communications by 4.3% in the 3rd quarter. CWM LLC now owns 3,079 shares of the technology company’s stock valued at $741,000 after acquiring an additional 127 shares during the last quarter. Pathway Financial Advisors LLC acquired a new stake in SBA Communications in the 3rd quarter valued at about $213,000. Sugarloaf Wealth Management LLC grew its stake in SBA Communications by 11.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after acquiring an additional 58 shares during the last quarter. Finally, Atomi Financial Group Inc. acquired a new stake in SBA Communications in the 3rd quarter valued at about $312,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of the 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 sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the firm’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 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 $1,213,814.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Price Performance

Shares of SBAC stock opened at $241.46 on Wednesday. The firm has a market cap of $25.95 billion, a P/E ratio of 50.94, a PEG ratio of 0.75 and a beta of 0.67. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The firm’s 50-day simple moving average is $235.22 and its 200-day simple moving average is $212.91.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). The company had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.24 earnings per share. Analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 82.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft upped their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Barclays upped their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets reduced their target price on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. Finally, Morgan Stanley upped their target price on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $251.58.

SBA Communications Company 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.