Prime Capital Investment Advisors LLC Acquires Shares of 174 SBA Communications Co. (NASDAQ:SBAC)
Prime Capital Investment Advisors LLC acquired a new stake in SBA Communications Co. (NASDAQ:SBAC) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 174 shares of the technology company’s stock, valued at approximately $42,000.
A number of other large investors have also made changes to their positions in the business. Usca Ria LLC acquired a new stake in SBA Communications in the 3rd quarter worth about $25,000. Advisory Services Network LLC raised its stake in SBA Communications by 65.4% during the second quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock worth $29,000 after purchasing an additional 51 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in SBA Communications during the second quarter worth approximately $29,000. Certified Advisory Corp purchased a new stake in SBA Communications during the 2nd quarter worth $31,000. Finally, Berman Capital Advisors LLC grew its holdings in SBA Communications by 103.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock worth $34,000 after acquiring an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 93.32% of the company’s stock.
In related news, CAO Brian D. Lazarus sold 1,466 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $261.00, for a total value of $382,626.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,829 shares of the company’s stock, valued at $4,653,369. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack Langer sold 5,301 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $261.91, for a total transaction of $1,388,384.91. Following the completion of the transaction, the director now directly owns 50 shares of the company’s stock, valued at $13,095.50. The disclosure for this sale can be found here. Insiders have sold a total of 81,854 shares of company stock valued at $21,753,404 over the last ninety days. Company insiders own 2.50% of the company’s stock.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($1.78). The business had revenue of $486.60 million for the quarter, compared to the consensus estimate of $497.48 million. SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. SBA Communications’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 earnings per share. Equities research analysts forecast that SBA Communications Co. will post 7.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.37 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.48 annualized dividend and a dividend yield of 0.64%. SBA Communications’s dividend payout ratio is currently 19.47%.
A number of research analysts recently commented on SBAC shares. Bank of America reaffirmed a “neutral” rating and set a $260.00 price objective (up from $245.00) on shares of SBA Communications in a research report on Wednesday, August 14th. BidaskClub cut shares of SBA Communications from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut shares of SBA Communications from an “overweight” rating to a “neutral” rating and upped their target price for the company from $220.00 to $270.00 in a research note on Thursday, August 1st. SunTrust Banks upped their target price on shares of SBA Communications to $255.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, ValuEngine cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $248.73.
SBA Communications Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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