CKW Financial Group Takes $56,000 Position in SBA Communications Co. (NASDAQ:SBAC)

CKW Financial Group bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 275 shares of the technology company’s stock, valued at approximately $56,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications during the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in SBA Communications in the 3rd quarter valued at about $35,000. Friedenthal Financial acquired a new position in SBA Communications during the 3rd quarter worth approximately $50,000. Farther Finance Advisors LLC boosted its holdings in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after acquiring an additional 53 shares in the last quarter. Finally, Eastern Bank acquired a new stake in SBA Communications in the third quarter valued at approximately $58,000. 97.35% of the stock is owned by institutional investors.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Down 0.9 %

Shares of NASDAQ:SBAC opened at $196.83 on Monday. The business’s 50 day moving average is $209.38 and its 200 day moving average is $221.84. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The stock has a market cap of $21.16 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last announced its 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). The business had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.34 earnings per share. As a group, equities research analysts expect that SBA Communications Co. will post 12.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday. TD Cowen raised their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. KeyCorp raised their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.29.

About SBA Communications

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.