IQ EQ FUND MANAGEMENT IRELAND Ltd Has $1.47 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,120 shares of the technology company’s stock after selling 1,002 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in SBA Communications were worth $1,473,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in shares of SBA Communications during the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications during the 2nd quarter worth approximately $36,000. Global X Japan Co. Ltd. bought a new position in SBA Communications during the 2nd quarter worth approximately $49,000. Versant Capital Management Inc boosted its stake in SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after acquiring an additional 270 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in SBA Communications during the 2nd quarter worth approximately $60,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction 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 completion of the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBAC. Wells Fargo & Company lifted their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Royal Bank of Canada lifted their price objective 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. BMO Capital Markets reduced their price objective 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. Finally, Barclays lifted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $251.58.

SBA Communications Stock Down 0.6 %

Shares of SBAC stock opened at $247.20 on Friday. The company’s fifty day simple moving average is $233.53 and its 200-day simple moving average is $212.29. The firm has a market cap of $26.57 billion, a PE ratio of 52.15, a P/E/G ratio of 0.72 and a beta of 0.67. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

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

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were paid a $0.98 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.59%. SBA Communications’s dividend payout ratio is presently 82.70%.

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.