Gateway Investment Advisers LLC Cuts Stake in SBA Communications Co. (NASDAQ:SBAC)

Gateway Investment Advisers LLC cut its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,244 shares of the technology company's stock after selling 12,512 shares during the period. Gateway Investment Advisers LLC owned about 0.07% of SBA Communications worth $15,539,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in SBA Communications in the third quarter valued at approximately $35,000. Friedenthal Financial purchased a new position in SBA Communications in the third quarter worth approximately $50,000. Farther Finance Advisors LLC grew its holdings in SBA Communications by 32.5% during the 3rd 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 position in SBA Communications during the 3rd quarter worth approximately $58,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBAC has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price objective 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. Raymond James lifted their price target on SBA Communications from $285.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 29th. Barclays dropped their price objective on SBA Communications from $257.00 to $254.00 and set an "overweight" rating on the stock in a report on Monday. StockNews.com cut SBA Communications from a "buy" rating to a "hold" rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price target on SBA Communications from $228.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $254.77.

SBA Communications Trading Down 0.3 %

SBAC stock traded down $0.57 on Friday, hitting $203.61. The company's stock had a trading volume of 697,679 shares, compared to its average volume of 859,807. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 0.68 and a beta of 0.69. The firm has a 50 day moving average of $211.71 and a two-hundred day moving average of $221.07. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its 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). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million during the quarter, compared to analysts' expectations of $669.29 million. During the same period in the previous year, the company posted $3.34 earnings per share. SBA Communications's quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts forecast that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

Insider Transactions at SBA Communications

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

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.