Circle Wealth Management LLC Purchases 1,429 Shares of SBA Communications Co. (NASDAQ:SBAC)

Circle Wealth Management LLC boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 40.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,995 shares of the technology company’s stock after buying an additional 1,429 shares during the quarter. Circle Wealth Management LLC’s holdings in SBA Communications were worth $1,202,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the third quarter worth $35,000. Ridgewood Investments LLC acquired a new stake in SBA Communications in the second quarter valued at $32,000. Family Firm Inc. bought a new position in SBA Communications during the 2nd quarter worth $36,000. Finally, Friedenthal Financial bought a new position in SBA Communications during the 3rd quarter worth $50,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of SBAC opened at $226.25 on Friday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a 50 day moving average price of $232.78 and a two-hundred day moving average price of $218.20. The firm has a market capitalization of $24.33 billion, a P/E ratio of 35.69, a P/E/G ratio of 0.77 and a beta of 0.68.

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

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated 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 transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Raymond James raised their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Royal Bank of Canada boosted their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, KeyCorp raised their target price on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

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.