6,077 SBA Communications Corporation $SBAC Shares Acquired by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC lifted its stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 147.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,193 shares of the technology company's stock after purchasing an additional 6,077 shares during the quarter. Chicago Partners Investment Group LLC's holdings in SBA Communications were worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Rakuten Investment Management Inc. raised its holdings in SBA Communications by 9.9% during the 3rd quarter. Rakuten Investment Management Inc. now owns 19,040 shares of the technology company's stock worth $3,100,000 after buying an additional 1,708 shares during the period. Provenance Wealth Advisors LLC purchased a new stake in SBA Communications during the third quarter valued at about $36,000. Gerber Kawasaki Wealth & Investment Management boosted its holdings in shares of SBA Communications by 26.3% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,469 shares of the technology company's stock worth $235,000 after buying an additional 306 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of SBA Communications in the third quarter worth about $4,577,000. Finally, Profund Advisors LLC boosted its holdings in shares of SBA Communications by 42.2% in the third quarter. Profund Advisors LLC now owns 1,974 shares of the technology company's stock worth $316,000 after buying an additional 586 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 300 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the sale, the director directly owned 8,512 shares in the company, valued at approximately $1,554,887.04. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.50% of the company's stock.

SBA Communications Trading Down 1.9%

NASDAQ:SBAC opened at $189.42 on Friday. The business's fifty day moving average price is $179.80 and its 200 day moving average price is $190.00. The firm has a market capitalization of $20.10 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.90 and a beta of 0.97. SBA Communications Corporation has a 1-year low of $156.60 and a 1-year high of $224.46.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The technology company reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.10. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.54%. The firm had revenue of $713.92 million during the quarter, compared to analyst estimates of $724.07 million. During the same period last year, the company posted $3.30 EPS. The business's quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts forecast that SBA Communications Corporation will post 11.45 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 12th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Thursday, November 12th. SBA Communications's dividend payout ratio is 53.94%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial restated an "outperform" rating and set a $271.00 price target on shares of SBA Communications in a report on Monday, October 5th. Morgan Stanley reduced their price target on shares of SBA Communications from $215.00 to $205.00 and set an "equal weight" rating for the company in a research report on Monday, September 21st. Barclays decreased their price objective on shares of SBA Communications from $208.00 to $207.00 and set an "overweight" rating for the company in a research note on Wednesday, September 30th. Wolfe Research upgraded shares of SBA Communications from a "hold" rating to an "outperform" rating in a research report on Tuesday, August 4th. Finally, Sanford C. Bernstein lowered their price objective on shares of SBA Communications from $219.00 to $208.00 and set a "market perform" rating on the stock in a research report on Tuesday, October 20th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $224.64.

SBA Communications Company Profile

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