SBA Communications Co. (NASDAQ:SBAC) Stock Position Decreased by Crescent Park Management L.P.

Crescent Park Management L.P. cut its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,359 shares of the technology company's stock after selling 5,283 shares during the quarter. SBA Communications comprises about 5.3% of Crescent Park Management L.P.'s holdings, making the stock its 6th largest position. Crescent Park Management L.P. owned 0.06% of SBA Communications worth $13,932,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evermay Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter worth approximately $27,000. Graney & King LLC bought a new stake in SBA Communications in the fourth quarter worth $29,000. Oakworth Capital Inc. boosted its position in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after buying an additional 144 shares during the period. CKW Financial Group bought a new position in shares of SBA Communications during the fourth quarter valued at about $56,000. Finally, Versant Capital Management Inc increased its holdings in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after buying an additional 53 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBAC. Morgan Stanley began coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price for the company. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. BMO Capital Markets reissued a "market perform" rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Finally, JMP Securities started coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an "outperform" rating and a $250.00 price target for the company. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and a consensus price target of $251.92.

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SBA Communications Trading Down 2.0 %

SBAC traded down $4.35 during trading on Monday, hitting $215.57. 827,941 shares of the company's stock traded hands, compared to its average volume of 876,971. The stock has a market capitalization of $23.20 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 0.74 and a beta of 0.83. The company's 50 day simple moving average is $213.48 and its two-hundred day simple moving average is $218.48. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.06%. This is an increase from SBA Communications's previous quarterly dividend of $0.98. The ex-dividend date was Thursday, March 13th. SBA Communications's dividend payout ratio (DPR) is presently 63.98%.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

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.