Vinva Investment Management Ltd Reduces Position in SBA Communications Co. (NASDAQ:SBAC)

Vinva Investment Management Ltd lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 31.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,603 shares of the technology company's stock after selling 12,900 shares during the period. Vinva Investment Management Ltd's holdings in SBA Communications were worth $5,816,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications during the fourth quarter valued at $27,000. Oakworth Capital Inc. grew its stake in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after purchasing an additional 144 shares during the last quarter. CKW Financial Group purchased a new stake in SBA Communications during the 4th quarter valued at about $56,000. Versant Capital Management Inc raised its stake in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock worth $73,000 after purchasing an additional 53 shares during the last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications during the fourth quarter worth about $73,000. Institutional investors and hedge funds own 97.35% of the company's stock.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the company's 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 completion of the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

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SBA Communications Stock Up 0.3 %

Shares of SBA Communications stock traded up $0.67 on Friday, reaching $221.64. The company's stock had a trading volume of 1,208,595 shares, compared to its average volume of 849,287. The company has a market capitalization of $23.85 billion, a P/E ratio of 34.96, a PEG ratio of 0.74 and a beta of 0.74. The stock has a 50-day moving average price of $209.59 and a 200-day moving average price of $220.10. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $0.98. SBA Communications's payout ratio is presently 63.98%.

Wall Street Analyst Weigh In

SBAC has been the topic of several research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. 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. Barclays raised their target price on shares of SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a report on Friday. BMO Capital Markets reaffirmed a "market perform" rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, JMP Securities initiated coverage on SBA Communications in a research note on Monday, January 27th. They set an "outperform" rating and a $250.00 price objective for the company. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and an average target price of $252.85.

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.