7,727 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by XTX Topco Ltd

XTX Topco Ltd acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,727 shares of the technology company’s stock, valued at approximately $1,517,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SBAC. SG Americas Securities LLC raised its position in shares of SBA Communications by 191.3% in the 1st quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock worth $5,597,000 after buying an additional 16,962 shares during the period. Franklin Resources Inc. lifted its stake in shares of SBA Communications by 2.8% in the 4th quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock valued at $179,547,000 after purchasing an additional 19,462 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of SBA Communications during the 4th quarter worth about $7,422,000. Wellington Management Group LLP increased its position in SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock worth $57,113,000 after purchasing an additional 192,791 shares in the last quarter. Finally, Clear Rock Advisors LLC purchased a new position in SBA Communications in the fourth quarter valued at approximately $1,900,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the subject of several recent research reports. Wells Fargo & Company lowered shares of SBA Communications from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. Morgan Stanley increased their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group began coverage on SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective on the stock. TD Cowen lowered their target price on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Barclays reduced their price target on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction that occurred on Thursday, August 1st. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The disclosure for this sale can be found here. Insiders have sold 51,590 shares of company stock valued at $11,483,981 over the last three months. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $238.29 on Friday. The company’s fifty day moving average is $223.59 and its two-hundred day moving average is $209.10. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The stock has a market capitalization of $25.61 billion, a price-to-earnings ratio of 46.72, a price-to-earnings-growth ratio of 0.75 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 the consensus estimate 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 for the quarter, compared to analyst estimates of $665.21 million. During the same quarter last year, the company earned $3.24 EPS. SBA Communications’s revenue was down 2.7% compared to the same quarter last year. Sell-side analysts expect that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.65%. SBA Communications’s payout ratio is currently 76.86%.

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.