Entropy Technologies LP Increases Position in SBA Communications Co. (NASDAQ:SBAC)

Entropy Technologies LP raised its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,824 shares of the technology company’s stock after purchasing an additional 707 shares during the quarter. Entropy Technologies LP’s holdings in SBA Communications were worth $4,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in SBA Communications in the 3rd quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in shares of SBA Communications during the second quarter worth about $32,000. Capital Performance Advisors LLP purchased a new position in SBA Communications during the third quarter worth about $35,000. Family Firm Inc. acquired a new stake in SBA Communications in the second quarter valued at about $36,000. Finally, Global X Japan Co. Ltd. purchased a new stake in SBA Communications in the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SBAC. The Goldman Sachs Group lifted their price target on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Wells Fargo & Company upped their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. KeyCorp raised their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Raymond James boosted their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $257.23.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $220.19 on Tuesday. The firm has a market capitalization of $23.68 billion, a PE ratio of 34.73, a P/E/G ratio of 0.76 and a beta of 0.68. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The business has a 50-day moving average of $237.64 and a two-hundred day moving average of $215.67.

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

SBA Communications Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is 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.