SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Walleye Capital LLC

Walleye Capital LLC lessened its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 10.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,882 shares of the technology company's stock after selling 6,843 shares during the period. Walleye Capital LLC owned approximately 0.06% of SBA Communications worth $14,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Victory Capital Management Inc. increased its position in SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock worth $292,714,000 after purchasing an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company's stock worth $213,353,000 after buying an additional 700,791 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of SBA Communications in the second quarter worth $134,738,000. Long Pond Capital LP purchased a new position in shares of SBA Communications in the 2nd quarter valued at $83,687,000. Finally, AQR Capital Management LLC lifted its holdings in shares of SBA Communications by 500.0% during the 2nd quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company's stock valued at $72,375,000 after acquiring an additional 307,530 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on SBAC shares. Deutsche Bank Aktiengesellschaft raised their price objective on SBA Communications from $230.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Raymond James raised their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a report on Tuesday, October 29th. TD Cowen boosted their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Finally, StockNews.com upgraded SBA Communications from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $257.23.

SBA Communications Stock Performance

Shares of NASDAQ SBAC traded down $2.26 during midday trading on Friday, hitting $226.25. The company's stock had a trading volume of 351,601 shares, compared to its average volume of 917,920. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The firm's fifty day moving average price is $232.78 and its 200-day moving average price is $218.20. The firm has a market cap of $24.33 billion, a P/E ratio of 35.69, a P/E/G ratio of 0.77 and a beta of 0.68.

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

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's dividend payout ratio (DPR) is 61.83%.

Insider Transactions at SBA Communications

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