Sei Investments Co. Buys 101,799 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sei Investments Co. increased its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 25.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 506,029 shares of the technology company's stock after purchasing an additional 101,799 shares during the quarter. Sei Investments Co. owned approximately 0.47% of SBA Communications worth $103,129,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SBAC. Mizuho Securities USA LLC raised its stake in shares of SBA Communications by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 10,191 shares of the technology company's stock valued at $2,077,000 after buying an additional 3,222 shares during the period. Blueshift Asset Management LLC purchased a new stake in SBA Communications during the fourth quarter valued at about $243,000. iA Global Asset Management Inc. boosted its position in SBA Communications by 15.3% during the fourth quarter. iA Global Asset Management Inc. now owns 8,828 shares of the technology company's stock worth $1,799,000 after purchasing an additional 1,174 shares during the period. Teacher Retirement System of Texas purchased a new position in shares of SBA Communications in the fourth quarter worth about $205,000. Finally, Signaturefd LLC raised its position in shares of SBA Communications by 16.4% in the fourth quarter. Signaturefd LLC now owns 894 shares of the technology company's stock valued at $182,000 after purchasing an additional 126 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Trading Up 0.8 %

NASDAQ SBAC traded up $1.68 during trading on Thursday, hitting $216.38. The company had a trading volume of 558,115 shares, compared to its average volume of 844,751. The company's fifty day moving average is $210.80 and its 200-day moving average is $219.70. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The company has a market cap of $23.29 billion, a price-to-earnings ratio of 34.13, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74.

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SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $1.11 dividend. 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. This represents a $4.44 annualized dividend and a yield of 2.05%. SBA Communications's dividend payout ratio (DPR) is 63.98%.

Analyst Ratings Changes

A number of brokerages have issued reports on SBAC. StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a report on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Wells Fargo & Company raised their target price on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. BMO Capital Markets reiterated a "market perform" rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Finally, JMP Securities assumed coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an "outperform" rating and a $250.00 price target for the company. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $252.85.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.