SBA Communications Co. (NASDAQ:SBAC) Stake Cut by Fortune Financial Advisors LLC

Fortune Financial Advisors LLC cut its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,795 shares of the technology company’s stock after selling 109 shares during the quarter. Fortune Financial Advisors LLC’s holdings in SBA Communications were worth $432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new stake in shares of SBA Communications during the second quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications during the 2nd quarter valued at $36,000. Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications during the 2nd quarter valued at $49,000. Friedenthal Financial purchased a new position in shares of SBA Communications during the 3rd quarter valued at $50,000. Finally, Versant Capital Management Inc increased its stake in shares of SBA Communications by 4,500.0% in the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In related news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction 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 transaction, the director now 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 legal filing with the SEC, which is available through this hyperlink. In other SBA Communications news, 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 value of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal 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 business’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 value of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,590 shares of company stock worth $11,483,981. Insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

SBA Communications stock opened at $241.79 on Friday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The firm has a fifty day moving average price of $236.84 and a two-hundred day moving average price of $213.52. The firm has a market cap of $25.99 billion, a price-to-earnings ratio of 51.01, a P/E/G ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted 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 business had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. SBA Communications’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.24 EPS. As a group, sell-side analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBAC. Morgan Stanley lifted their price objective on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group boosted their price target on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Wells Fargo & Company raised their price objective 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, October 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada increased their price target 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. Three 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 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.