Walleye Capital LLC increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,047 shares of the technology company's stock after buying an additional 6,165 shares during the quarter. Walleye Capital LLC owned about 0.06% of SBA Communications worth $13,664,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter valued at approximately $27,000. Graney & King LLC purchased a new position in SBA Communications in the 4th quarter valued at $29,000. Oakworth Capital Inc. increased its stake in SBA Communications by 161.8% in the 4th 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 purchased a new position in SBA Communications during the 4th quarter worth $56,000. Finally, Versant Capital Management Inc lifted its stake in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after acquiring an additional 53 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.
SBA Communications Price Performance
SBAC stock traded up $3.39 during midday trading on Friday, hitting $229.06. The stock had a trading volume of 1,308,133 shares, compared to its average volume of 898,037. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a market cap of $24.65 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The company's 50-day moving average price is $216.91 and its 200 day moving average price is $217.24.
SBA Communications Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $1.11 dividend. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, March 13th. SBA Communications's dividend payout ratio is presently 63.98%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports 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 price target for the company. Wells Fargo & Company upped their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. JMP Securities initiated coverage on SBA Communications in a research report on Monday, January 27th. They issued an "outperform" rating and a $250.00 price objective for the company. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Barclays upped their price target on shares of SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Six research 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. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $251.92.
Read Our Latest Research Report on SBA Communications
Insider Buying and Selling
In other news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by company insiders.
About SBA Communications
(
Free Report)
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.
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