Accurate Wealth Management LLC Invests $1.50 Million in SBA Communications Co. (NASDAQ:SBAC)

Accurate Wealth Management LLC acquired a new position in shares of SBA Communications Co. (NASDAQ:SBACGet Rating) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,354 shares of the technology company’s stock, valued at approximately $1,498,000.

Several other large investors have also modified their holdings of SBAC. GHP Investment Advisors Inc. purchased a new position in SBA Communications in the first quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in SBA Communications in the first quarter valued at approximately $26,000. Curi Wealth Management LLC purchased a new position in SBA Communications in the fourth quarter valued at approximately $30,000. Benjamin F. Edwards & Company Inc. grew its position in SBA Communications by 331.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 95 shares of the technology company’s stock valued at $37,000 after acquiring an additional 73 shares in the last quarter. Finally, Capital Analysts LLC acquired a new stake in SBA Communications in the fourth quarter valued at approximately $40,000. 95.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SBA Communications news, Director Duncan Cocroft sold 1,152 shares of SBA Communications stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $344.50, for a total transaction of $396,864.00. Following the transaction, the director now owns 64,592 shares of the company’s stock, valued at approximately $22,251,944. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Mark R. Ciarfella sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $338.05, for a total transaction of $338,050.00. Following the sale, the executive vice president now directly owns 23,884 shares in the company, valued at $8,073,986.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Duncan Cocroft sold 1,152 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $344.50, for a total value of $396,864.00. Following the completion of the sale, the director now owns 64,592 shares in the company, valued at $22,251,944. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,939 shares of company stock worth $26,593,030. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of SBA Communications from $383.00 to $347.00 and set a “hold” rating for the company in a research report on Thursday, June 30th. Morgan Stanley lowered their price objective on shares of SBA Communications from $389.00 to $361.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of SBA Communications from $375.00 to $385.00 in a research report on Tuesday, August 2nd. Barclays increased their price objective on shares of SBA Communications from $378.00 to $385.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Finally, UBS Group raised their price target on shares of SBA Communications from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.88.

SBA Communications Trading Up 1.4 %

SBA Communications stock traded up $4.92 during mid-day trading on Monday, reaching $354.96. The company’s stock had a trading volume of 12,089 shares, compared to its average volume of 692,676. The firm has a market cap of $38.27 billion, a price-to-earnings ratio of 108.37 and a beta of 0.43. The business has a 50 day moving average price of $324.59 and a 200-day moving average price of $329.77. SBA Communications Co. has a twelve month low of $286.41 and a twelve month high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last posted its earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). The company had revenue of $652.01 million during the quarter, compared to the consensus estimate of $626.30 million. SBA Communications had a net margin of 14.45% and a negative return on equity of 6.73%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.64 earnings per share. On average, equities analysts expect that SBA Communications Co. will post 11.2 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Thursday, August 25th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.80%. The ex-dividend date is Wednesday, August 24th. SBA Communications’s dividend payout ratio (DPR) is presently 87.93%.

SBA Communications Company Profile

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

See Also

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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