Y Intercept Hong Kong Ltd Trims Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Y Intercept Hong Kong Ltd decreased its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 67.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,625 shares of the technology company's stock after selling 3,356 shares during the period. Y Intercept Hong Kong Ltd's holdings in SBA Communications were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MML Investors Services LLC raised its holdings in shares of SBA Communications by 5.3% in the third quarter. MML Investors Services LLC now owns 8,028 shares of the technology company's stock worth $1,932,000 after buying an additional 407 shares during the last quarter. Zimmer Partners LP increased its stake in shares of SBA Communications by 346.2% in the third quarter. Zimmer Partners LP now owns 156,600 shares of the technology company's stock worth $37,694,000 after acquiring an additional 121,500 shares during the period. National Bank of Canada FI increased its stake in shares of SBA Communications by 142.7% in the third quarter. National Bank of Canada FI now owns 71,826 shares of the technology company's stock worth $17,288,000 after acquiring an additional 42,230 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of SBA Communications in the third quarter worth $557,000. Finally, State Street Corp increased its stake in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company's stock worth $1,117,697,000 after acquiring an additional 81,566 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Stock Down 1.5 %

Shares of SBAC traded down $3.29 during trading on Tuesday, reaching $208.99. 779,166 shares of the company traded hands, compared to its average volume of 911,635. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $256.68. The stock has a market cap of $22.47 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. The stock has a 50-day simple moving average of $227.66 and a 200-day simple moving average of $220.53.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.34 EPS. On average, equities research analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications's dividend payout ratio (DPR) is currently 61.83%.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

SBAC has been the topic of a number of research reports. Barclays increased their price objective 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. The Goldman Sachs Group raised their price target 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. Raymond James lifted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 29th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Finally, TD Cowen lifted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $257.23.

SBA Communications Company 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.