Gateway Investment Advisers LLC Sells 858 Shares of SBA Communications Co. (NASDAQ:SBAC)

Gateway Investment Advisers LLC lowered its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 88,756 shares of the technology company’s stock after selling 858 shares during the period. Gateway Investment Advisers LLC owned about 0.08% of SBA Communications worth $21,364,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in SBAC. GSA Capital Partners LLP purchased a new position in shares of SBA Communications in the fourth quarter worth about $3,779,000. Quarry LP lifted its position in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after purchasing an additional 132 shares during the last quarter. Novak & Powell Financial Services Inc. purchased a new stake in shares of SBA Communications during the fourth quarter valued at approximately $1,278,000. V Square Quantitative Management LLC increased its stake in shares of SBA Communications by 26.4% in the fourth quarter. V Square Quantitative Management LLC now owns 2,279 shares of the technology company’s stock worth $578,000 after buying an additional 476 shares during the period. Finally, Napa Wealth Management bought a new stake in SBA Communications during the 4th quarter valued at $255,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is currently owned by insiders.

SBA Communications Stock Performance

SBAC stock traded up $0.28 during trading on Friday, hitting $233.51. 533,731 shares of the company’s stock traded hands, compared to its average volume of 914,385. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market capitalization of $25.09 billion, a price-to-earnings ratio of 45.79, a P/E/G ratio of 0.71 and a beta of 0.67. The business has a fifty day simple moving average of $231.29 and a 200 day simple moving average of $211.46.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.24 earnings per share. Research analysts forecast that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.68%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Analyst Ratings Changes

SBAC has been the subject of several research reports. KeyCorp increased their target price on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Royal Bank of Canada raised their price target on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Morgan Stanley raised their target price on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $247.42.

About SBA Communications

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.