Wedge Capital Management L L P NC Purchases 1,547 Shares of SBA Communications Co. (NASDAQ:SBAC)

Wedge Capital Management L L P NC lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,215 shares of the technology company's stock after buying an additional 1,547 shares during the period. Wedge Capital Management L L P NC's holdings in SBA Communications were worth $3,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SBAC. Ashton Thomas Securities LLC bought a new stake in SBA Communications during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new stake in shares of SBA Communications in the third quarter valued at about $35,000. Friedenthal Financial bought a new stake in SBA Communications during the third quarter worth about $50,000. Farther Finance Advisors LLC boosted its position in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock valued at $52,000 after purchasing an additional 53 shares during the last quarter. Finally, Eastern Bank bought a new position in SBA Communications in the third quarter valued at approximately $58,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the business's stock in a transaction dated Monday, December 9th. The stock was 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 of the company's stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

SBA Communications Trading Down 0.3 %

NASDAQ SBAC traded down $0.57 during trading on Monday, reaching $203.61. The company's stock had a trading volume of 697,679 shares, compared to its average volume of 786,447. The firm has a 50 day moving average price of $211.30 and a 200 day moving average price of $221.60. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 0.68 and a beta of 0.69.

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

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a dividend of $0.98 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.93%. SBA Communications's dividend payout ratio is 61.83%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SBAC shares. BMO Capital Markets reissued a "market perform" rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Wells Fargo & Company upped their target price on shares of SBA Communications from $220.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Barclays cut their price objective on SBA Communications from $257.00 to $254.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Finally, TD Cowen boosted their target price on SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $254.77.

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.