Mizuho Securities USA LLC Acquires 83,792 Shares of SBA Communications Co. (NASDAQ:SBAC)

Mizuho Securities USA LLC increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 1,011.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,079 shares of the technology company's stock after purchasing an additional 83,792 shares during the period. Mizuho Securities USA LLC owned approximately 0.09% of SBA Communications worth $22,163,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in SBA Communications during the first quarter worth $1,764,000. Tidal Investments LLC raised its holdings in shares of SBA Communications by 105.4% in the 1st quarter. Tidal Investments LLC now owns 5,279 shares of the technology company's stock valued at $1,144,000 after purchasing an additional 2,709 shares during the period. Lazard Asset Management LLC grew its holdings in SBA Communications by 7.8% during the first quarter. Lazard Asset Management LLC now owns 148,687 shares of the technology company's stock worth $32,219,000 after purchasing an additional 10,753 shares during the period. AMF Tjanstepension AB acquired a new stake in shares of SBA Communications in the second quarter valued at approximately $8,197,000. Finally, Cetera Investment Advisers raised its stake in SBA Communications by 228.1% in the 1st quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company's stock valued at $2,252,000 after acquiring an additional 7,226 shares during the period. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

SBA Communications stock traded up $2.62 during trading hours on Friday, reaching $221.09. The stock had a trading volume of 889,861 shares, compared to its average volume of 929,385. The company has a fifty day simple moving average of $236.35 and a 200-day simple moving average of $216.16. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market cap of $23.77 billion, a PE ratio of 34.87, a PEG ratio of 0.74 and a beta of 0.68.

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). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. 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 business earned $3.34 EPS. The business's revenue was down 2.2% compared to the same quarter last year. Research 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 declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.77%. SBA Communications's dividend payout ratio is currently 61.83%.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company's stock, valued at approximately $1,213,814.28. This represents a 23.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SBAC has been the topic of several research reports. Morgan Stanley upped their target price on SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. Royal Bank of Canada increased their target price on shares of SBA Communications from $235.00 to $245.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. Barclays lifted their price target on shares of SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. BMO Capital Markets increased their price target on SBA Communications from $255.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 29th. Finally, Raymond James lifted their price objective on SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $257.23.

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.