Marshall Wace LLP Takes $49.30 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Marshall Wace LLP purchased a new position in SBA Communications Co. (NASDAQ:SBAC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 241,888 shares of the technology company's stock, valued at approximately $49,297,000. Marshall Wace LLP owned about 0.22% of SBA Communications at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dodge & Cox boosted its holdings in SBA Communications by 352.5% in the fourth quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after acquiring an additional 5,722,740 shares in the last quarter. Norges Bank purchased a new position in shares of SBA Communications in the fourth quarter worth $268,287,000. Wealthfront Advisers LLC lifted its stake in shares of SBA Communications by 23,553.0% during the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock worth $229,648,000 after buying an additional 1,122,064 shares during the period. JPMorgan Chase & Co. increased its position 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 valued at $1,024,049,000 after acquiring an additional 605,872 shares during the period. Finally, Victory Capital Management Inc. lifted its position in SBA Communications by 46.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock worth $363,015,000 after acquiring an additional 565,137 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Buying and Selling

In related news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays raised their price objective on SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Wells Fargo & Company upped their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective for the company. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus target price of $251.92.

SBA Communications Trading Down 4.4 %

NASDAQ:SBAC traded down $10.08 during trading hours on Wednesday, reaching $221.34. 693,542 shares of the company were exchanged, compared to its average volume of 899,695. The firm has a market cap of $23.82 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock's 50-day moving average is $218.11 and its 200-day moving average is $216.85.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's dividend payout ratio is 63.98%.

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.