Marshall Wace LLP Decreases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Marshall Wace LLP reduced its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 90.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,953 shares of the technology company’s stock after selling 190,247 shares during the quarter. Marshall Wace LLP’s holdings in SBA Communications were worth $3,720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SBAC. Principal Financial Group Inc. raised its stake in shares of SBA Communications by 54.9% during the first quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after acquiring an additional 1,524,302 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in SBA Communications during the 2nd quarter valued at approximately $134,738,000. Diamond Hill Capital Management Inc. lifted its holdings in SBA Communications by 13.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after buying an additional 233,179 shares during the period. BNP Paribas Financial Markets grew its position in shares of SBA Communications by 144.7% in the 1st quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company’s stock worth $77,955,000 after buying an additional 212,739 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of SBA Communications by 1,305.8% during the first quarter. Janus Henderson Group PLC now owns 224,985 shares of the technology company’s stock valued at $48,732,000 after buying an additional 208,981 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. BMO Capital Markets cut their target price on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada increased their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their target price on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.08.

SBA Communications Trading Down 0.3 %

NASDAQ SBAC opened at $241.97 on Thursday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The stock’s fifty day moving average price is $228.98 and its 200-day moving average price is $210.41. The stock has a market cap of $26.00 billion, a P/E ratio of 47.45, a P/E/G ratio of 0.72 and a beta of 0.67.

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

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were given a $0.98 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.62%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Buying and Selling at SBA Communications

In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,590 shares of company stock worth $11,483,981. Insiders own 1.30% of the company’s stock.

SBA Communications Company 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.