Moody National Bank Trust Division Buys New Position in SBA Communications Co. (NASDAQ:SBAC)

Moody National Bank Trust Division bought a new stake in shares of SBA Communications Co. (NASDAQ:SBACGet Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,095 shares of the technology company’s stock, valued at approximately $350,000.

Several other large investors also recently added to or reduced their stakes in SBAC. GHP Investment Advisors Inc. bought a new position in shares of SBA Communications in the first quarter worth approximately $25,000. Riverview Trust Co bought a new position in shares of SBA Communications in the first quarter worth approximately $26,000. Carolinas Wealth Consulting LLC lifted its holdings in shares of SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after buying an additional 62 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after buying an additional 62 shares in the last quarter. Finally, Standard Family Office LLC lifted its holdings in shares of SBA Communications by 364.0% in the first quarter. Standard Family Office LLC now owns 116 shares of the technology company’s stock worth $40,000 after buying an additional 91 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBAC. Wells Fargo & Company lowered their target price on shares of SBA Communications from $390.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Morgan Stanley boosted their target price on shares of SBA Communications from $361.00 to $366.00 and gave the stock an “overweight” rating in a report on Friday. The Goldman Sachs Group lowered their target price on shares of SBA Communications from $424.00 to $381.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Credit Suisse Group boosted their target price on shares of SBA Communications from $405.00 to $408.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Finally, UBS Group upped their price target on shares of SBA Communications from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $384.67.

Insider Activity at SBA Communications

In related news, Director Duncan Cocroft sold 1,152 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mark R. Ciarfella sold 5,760 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $343.94, for a total value of $1,981,094.40. Following the completion of the sale, the executive vice president now owns 23,884 shares in the company, valued at $8,214,662.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Duncan Cocroft sold 1,152 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $344.50, for a total transaction of $396,864.00. Following the completion of the transaction, the director now directly owns 64,592 shares of the company’s stock, valued at approximately $22,251,944. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,152 shares of company stock worth $18,852,602. Company insiders own 1.80% of the company’s stock.

SBA Communications Stock Down 0.0 %

SBAC stock opened at $311.62 on Tuesday. SBA Communications Co. has a twelve month low of $286.41 and a twelve month high of $391.15. The stock has a market capitalization of $33.60 billion, a price-to-earnings ratio of 96.48 and a beta of 0.44. The firm’s fifty day simple moving average is $330.42 and its two-hundred day simple moving average is $332.99.

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

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Thursday, August 25th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.91%. SBA Communications’s payout ratio is 87.93%.

SBA Communications 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

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

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