Crossmark Global Holdings Inc. Sells 192 Shares of SBA Communications Co. (NASDAQ:SBAC)

Crossmark Global Holdings Inc. decreased its stake in SBA Communications Co. (NASDAQ:SBAC) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,930 shares of the technology company’s stock after selling 192 shares during the period. Crossmark Global Holdings Inc.’s holdings in SBA Communications were worth $1,427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SBAC. Legacy Capital Wealth Partners LLC boosted its stake in SBA Communications by 100.6% in the third quarter. Legacy Capital Wealth Partners LLC now owns 3,497 shares of the technology company’s stock worth $842,000 after buying an additional 1,754 shares in the last quarter. Sustainable Insight Capital Management LLC grew its holdings in shares of SBA Communications by 80.2% during the 3rd 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 during the last quarter. Assetmark Inc. lifted its stake 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 last quarter. CWA Asset Management Group LLC purchased a new stake in SBA Communications during the third quarter valued at about $331,000. Finally, Capital Performance Advisors LLP bought a new position in shares of SBA Communications during the third quarter valued at about $35,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Activity

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction dated 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SBAC shares. Royal Bank of Canada lifted their target price on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. BMO Capital Markets raised their target price on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. KeyCorp upped their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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. Three research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $218.51 on Thursday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The company has a 50-day moving average of $237.29 and a 200 day moving average of $215.99. The firm has a market cap of $23.49 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million for 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%. SBA Communications’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.34 earnings per share. On average, equities analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid 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 1.79%. SBA Communications’s dividend payout ratio is currently 61.83%.

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.