9,091 Shares in SBA Communications Co. (NASDAQ:SBAC) Acquired by Avanza Fonder AB

Avanza Fonder AB acquired a new stake in SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,091 shares of the technology company’s stock, valued at approximately $1,853,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in shares of SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in SBA Communications by 377.6% in 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 valued at $213,353,000 after purchasing an additional 700,791 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in SBA Communications in the 2nd quarter worth about $134,738,000. JPMorgan Chase & Co. raised its stake in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Finally, Long Pond Capital LP acquired a new stake in shares of SBA Communications during the 2nd quarter valued at about $83,687,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % 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 Price Performance

NASDAQ:SBAC opened at $203.61 on Friday. The stock has a market cap of $21.89 billion, a P/E ratio of 32.12, a PEG ratio of 0.68 and a beta of 0.69. The company has a fifty day moving average price of $211.30 and a 200 day moving average price of $221.16. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the business posted $3.34 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a $0.98 dividend. 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 (DPR) is currently 61.83%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SBAC. Raymond James increased their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, TD Cowen upped their price target on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $254.77.

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.