XTX Topco Ltd Lowers Stake in SBA Communications Co. (NASDAQ:SBAC)

XTX Topco Ltd trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 86.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,017 shares of the technology company's stock after selling 6,710 shares during the quarter. XTX Topco Ltd's holdings in SBA Communications were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Wealth Enhancement Advisory Services LLC increased its position in SBA Communications by 10.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,126 shares of the technology company's stock valued at $810,000 after buying an additional 404 shares in the last quarter. Raymond James & Associates grew its stake in SBA Communications by 11.5% in the second quarter. Raymond James & Associates now owns 106,695 shares of the technology company's stock valued at $20,944,000 after acquiring an additional 10,995 shares during the period. Family Firm Inc. bought a new stake in shares of SBA Communications during the second quarter valued at approximately $36,000. LRI Investments LLC raised its position in shares of SBA Communications by 1,709.1% during the second quarter. LRI Investments LLC now owns 1,393 shares of the technology company's stock worth $273,000 after purchasing an additional 1,316 shares during the period. Finally, Schwartz Investment Counsel Inc. lifted its holdings in shares of SBA Communications by 10.0% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 274,000 shares of the technology company's stock worth $53,786,000 after purchasing an additional 25,000 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The sale 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 Trading Down 1.4 %

Shares of NASDAQ SBAC traded down $2.82 during mid-day trading on Thursday, hitting $198.24. The company had a trading volume of 1,791,240 shares, compared to its average volume of 917,043. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $256.68. The company has a market capitalization of $21.32 billion, a price-to-earnings ratio of 31.27, a P/E/G ratio of 0.72 and a beta of 0.67. The stock's 50-day moving average price is $226.27 and its 200-day moving average price is $220.24.

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 for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million for the quarter, compared to analysts' expectations of $669.29 million. During the same period in the previous year, the firm earned $3.34 EPS. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, November 14th. SBA Communications's dividend payout ratio is presently 61.83%.

Analyst Upgrades and Downgrades

SBAC has been the topic of several research reports. Raymond James upped their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 29th. Wells Fargo & Company lifted their target price on SBA Communications from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. KeyCorp upped their target price on shares of SBA Communications from $230.00 to $280.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Morgan Stanley increased their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research note on Wednesday, September 18th. Finally, Barclays lifted their price target on SBA Communications from $236.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and an average price target of $254.92.

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.