9,091 Shares in SBA Communications Co. (NASDAQ:SBAC) Acquired by Avanza Fonder AB

Avanza Fonder AB bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 9,091 shares of the technology company's stock, valued at approximately $1,853,000.

Several other large investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock worth $292,714,000 after purchasing an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of SBA Communications by 377.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company's stock worth $213,353,000 after purchasing an additional 700,791 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of SBA Communications during the second quarter worth approximately $134,738,000. JPMorgan Chase & Co. boosted its holdings in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after acquiring an additional 605,872 shares in the last quarter. Finally, Long Pond Capital LP bought a new stake in SBA Communications during the 2nd quarter worth approximately $83,687,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company's stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald Day sold 2,321 shares of the business's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

SBA Communications Stock Down 0.3 %

NASDAQ:SBAC traded down $0.57 on Friday, hitting $203.61. The stock had a trading volume of 697,679 shares, compared to its average volume of 786,447. The company has a market cap of $21.89 billion, a PE ratio of 32.12, a P/E/G ratio of 0.68 and a beta of 0.69. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The business's fifty day moving average is $211.30 and its 200 day moving average is $221.39.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for 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%. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.34 EPS. Equities analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Thursday, November 14th. SBA Communications's dividend payout ratio (DPR) is presently 61.83%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Cowen lifted their price objective on SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. BMO Capital Markets reiterated a "market perform" rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Raymond James increased their price objective on SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 29th. The Goldman Sachs Group lifted their price target on shares of SBA Communications from $212.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. Finally, KeyCorp increased their price target on shares of SBA Communications from $230.00 to $280.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $254.77.

SBA Communications 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.