1,044 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC bought a new stake in SBA Communications Co. (NASDAQ:SBAC) during the third quarter, HoldingsChannel reports. The institutional investor bought 1,044 shares of the technology company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SBAC. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of SBA Communications by 10.7% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock valued at $127,000 after buying an additional 51 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after purchasing an additional 53 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of SBA Communications by 4.1% during the 2nd 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. Industrial Alliance Investment Management Inc. lifted its holdings in SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after purchasing an additional 58 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its stake in SBA Communications by 11.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after purchasing an additional 58 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Performance

NASDAQ SBAC opened at $241.79 on Monday. The stock has a market cap of $25.98 billion, a P/E ratio of 47.41, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock has a 50 day simple moving average of $236.84 and a two-hundred day simple moving average of $213.58.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on SBAC. Wells Fargo & Company increased their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Morgan Stanley raised their price objective on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. KeyCorp increased their target price on shares of 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 cut their price target on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $251.58.

Insiders Place Their Bets

In other news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications 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 sale, the director now directly owns 8,084 shares in the company, 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. In the last ninety days, insiders sold 51,590 shares of company stock worth $11,483,981. 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.