Atom Investors LP Has $5.32 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

Atom Investors LP reduced its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 59.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,103 shares of the technology company's stock after selling 32,323 shares during the period. Atom Investors LP's holdings in SBA Communications were worth $5,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in SBA Communications during the 3rd quarter worth $26,000. Ridgewood Investments LLC bought a new position in shares of SBA Communications in the second quarter worth $32,000. Capital Performance Advisors LLP acquired a new position in SBA Communications in the third quarter valued at about $35,000. Family Firm Inc. bought a new stake in SBA Communications during the second quarter worth about $36,000. Finally, Global X Japan Co. Ltd. acquired a new stake in SBA Communications during the second quarter worth about $49,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

Shares of SBAC traded down $3.31 during mid-day trading on Monday, reaching $222.94. 644,263 shares of the company were exchanged, compared to its average volume of 916,740. The business has a 50 day simple moving average of $232.78 and a two-hundred day simple moving average of $218.45. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market capitalization of $23.97 billion, a PE ratio of 35.16, a PEG ratio of 0.76 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (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 firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter last year, the firm posted $3.34 EPS. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.76%. SBA Communications's payout ratio is currently 61.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SBAC. Morgan Stanley boosted their price target on SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. TD Cowen raised their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Wells Fargo & Company upped their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. The Goldman Sachs Group raised their target price on shares of SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. Finally, Barclays boosted their target price on shares of SBA Communications from $236.00 to $256.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and a consensus target price of $257.23.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 23.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.