NEXT Financial Group Inc Acquires 51 Shares of SBA Communications Co. (NASDAQ:SBAC)

NEXT Financial Group Inc increased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 22.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 276 shares of the technology company’s stock after acquiring an additional 51 shares during the period. NEXT Financial Group Inc’s holdings in SBA Communications were worth $62,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Spectrum Management Group Inc. bought a new position in SBA Communications during the first quarter valued at $27,000. CWM LLC grew its holdings in SBA Communications by 31.4% during the first quarter. CWM LLC now owns 243 shares of the technology company’s stock valued at $49,000 after purchasing an additional 58 shares during the period. Parallel Advisors LLC grew its holdings in SBA Communications by 27.0% during the first quarter. Parallel Advisors LLC now owns 268 shares of the technology company’s stock valued at $53,000 after purchasing an additional 57 shares during the period. Stone House Investment Management LLC bought a new position in SBA Communications during the first quarter valued at $56,000. Finally, GWM Advisors LLC bought a new position in SBA Communications during the first quarter valued at $62,000. 94.30% of the stock is owned by institutional investors and hedge funds.

NASDAQ:SBAC opened at $254.29 on Friday. The stock has a market capitalization of $28.06 billion, a P/E ratio of 33.46, a P/E/G ratio of 3.16 and a beta of 0.69. The stock’s fifty day moving average is $235.20. SBA Communications Co. has a 1 year low of $146.13 and a 1 year high of $254.68.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($1.58). The company had revenue of $500.10 million for the quarter, compared to analysts’ expectations of $489.09 million. SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.50) EPS. On average, research analysts expect that SBA Communications Co. will post 7.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, August 28th will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, August 27th. This represents a $1.48 annualized dividend and a dividend yield of 0.58%.

In related news, Director George R. Krouse, Jr. sold 2,087 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $247.51, for a total value of $516,553.37. Following the sale, the director now owns 10,950 shares in the company, valued at $2,710,234.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Duncan Cocroft sold 6,453 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $209.71, for a total value of $1,353,258.63. Following the completion of the sale, the director now owns 69,774 shares in the company, valued at approximately $14,632,305.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,707 shares of company stock worth $13,382,974. Company insiders own 2.50% of the company’s stock.

SBAC has been the subject of several research reports. Morgan Stanley increased their price objective on SBA Communications from $204.00 to $222.00 and gave the company an “overweight” rating in a report on Monday, May 20th. ValuEngine raised SBA Communications from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Moffett Nathanson reissued a “neutral” rating and set a $246.00 price objective on shares of SBA Communications in a report on Monday, July 8th. SunTrust Banks increased their price objective on SBA Communications to $255.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Raymond James lowered SBA Communications from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. SBA Communications currently has an average rating of “Hold” and a consensus target price of $227.15.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

Further Reading: Gross Domestic Product (GDP)

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

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