Atomi Financial Group Inc. Takes $312,000 Position in SBA Communications Co. (NASDAQ:SBAC)

Atomi Financial Group Inc. bought a new position in SBA Communications Co. (NASDAQ:SBAC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,295 shares of the technology company’s stock, valued at approximately $312,000.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of SBA Communications by 0.5% in the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock valued at $3,763,691,000 after acquiring an additional 88,339 shares during the last quarter. Principal Financial Group Inc. raised its position in SBA Communications by 54.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after purchasing an additional 1,524,302 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in SBA Communications by 13.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after purchasing an additional 233,179 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of SBA Communications by 15.5% during the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock worth $233,654,000 after purchasing an additional 159,433 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of SBA Communications by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock valued at $213,773,000 after buying an additional 33,507 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Up 0.1 %

Shares of SBAC stock opened at $233.51 on Friday. The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 45.79, a P/E/G ratio of 0.71 and a beta of 0.67. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a fifty day moving average of $231.29 and a 200-day moving average of $211.44.

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

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s dividend payout ratio is presently 76.86%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Morgan Stanley upped their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. The Goldman Sachs Group raised their price target on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. increased their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company upped their target price on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $247.42.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were 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 of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction on 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 transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. 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 the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s 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 $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is owned by 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.