Cynosure Group LLC Sells 435 Shares of SBA Communications Co. (NASDAQ:SBAC)

Cynosure Group LLC reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 22.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,523 shares of the technology company’s stock after selling 435 shares during the period. Cynosure Group LLC’s holdings in SBA Communications were worth $367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBAC. Ashton Thomas Securities LLC bought a new position in shares of SBA Communications during the third quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in SBA Communications during the 2nd quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in SBA Communications during the 3rd quarter worth approximately $35,000. Family Firm Inc. acquired a new position in shares of SBA Communications in the 2nd quarter worth approximately $36,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications in the 2nd quarter valued at $49,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were 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 $1,213,814.28. This represents a 23.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SBAC shares. The Goldman Sachs Group lifted their target price on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. BMO Capital Markets lifted their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their target price on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Barclays lifted their target price on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada increased their price target on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Trading Up 0.8 %

SBA Communications stock opened at $228.51 on Friday. The firm has a market capitalization of $24.57 billion, a price-to-earnings ratio of 36.04, a price-to-earnings-growth ratio of 0.77 and a beta of 0.68. The firm’s fifty day moving average price is $233.05 and its two-hundred day moving average price is $218.00. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.34 EPS. On average, research analysts forecast that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.72%. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

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.