Stevens Capital Management LP Lowers Position in SBA Communications Co. (NASDAQ:SBAC)

Stevens Capital Management LP lowered its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 69.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,532 shares of the technology company's stock after selling 3,479 shares during the period. Stevens Capital Management LP's holdings in SBA Communications were worth $369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in SBA Communications in the third quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications during the 3rd quarter worth $35,000. Ridgewood Investments LLC purchased a new position in shares of SBA Communications in the 2nd quarter worth about $32,000. Family Firm Inc. bought a new position in SBA Communications during the second quarter valued at about $36,000. Finally, Friedenthal Financial purchased a new stake in SBA Communications during the third quarter worth about $50,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Trading Down 0.5 %

Shares of SBA Communications stock traded down $1.20 on Friday, reaching $220.38. The stock had a trading volume of 1,072,271 shares, compared to its average volume of 914,809. The business's 50 day moving average is $231.39 and its two-hundred day moving average is $218.79. The company has a market cap of $23.70 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76.

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

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be paid a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.78%. SBA Communications's dividend payout ratio is currently 61.83%.

Analysts Set New Price Targets

SBAC has been the topic of a number of research analyst reports. Barclays boosted their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. The Goldman Sachs Group upped their price objective on SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. TD Cowen upped their price target on SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Finally, StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $257.23.

Insider Activity

In other SBA Communications news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred 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 directly owns 4,998 shares of the company's stock, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.