SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 203,324 shares of the technology company’s stock after purchasing an additional 14,531 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of SBA Communications worth $39,912,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Ridgewood Investments LLC acquired a new position in shares of SBA Communications in the 2nd quarter valued at $32,000. Family Firm Inc. acquired a new position in shares of SBA Communications in the second quarter valued at about $36,000. Quarry LP raised its stake in shares of SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the last quarter. Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications during the second quarter worth about $49,000. Finally, Versant Capital Management Inc boosted its position in SBA Communications by 4,500.0% in the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after buying an additional 270 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $239.47 on Friday. The stock has a market capitalization of $25.73 billion, a P/E ratio of 46.95, a PEG ratio of 0.75 and a beta of 0.67. The business has a 50 day simple moving average of $224.12 and a two-hundred day simple moving average of $209.29. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter in the previous year, the business posted $3.24 EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts anticipate that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group began coverage on shares of SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective for the company. KeyCorp lifted their price objective on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their target price on 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 upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company lowered SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. Two research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $240.00.

Insider Transactions at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director George R. Krouse, Jr. sold 325 shares of the company’s 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 transaction, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was 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 of the company’s stock, valued at $1,213,814.28. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock worth $11,483,981 in the last ninety days. 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.