Oppenheimer Asset Management Inc. Grows Holdings in SBA Communications Co. (NASDAQ:SBAC)

Oppenheimer Asset Management Inc. boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 49.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,864 shares of the technology company’s stock after acquiring an additional 618 shares during the period. Oppenheimer Asset Management Inc.’s holdings in SBA Communications were worth $366,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in shares of SBA Communications by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after purchasing an additional 53 shares during the last quarter. Ballentine Partners LLC boosted its holdings in SBA Communications by 2.7% in the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after acquiring an additional 55 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after acquiring an additional 57 shares during the last quarter. Industrial Alliance Investment Management Inc. increased its holdings in shares of SBA Communications by 3.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after acquiring an additional 58 shares in the last quarter. Finally, Warwick Investment Management Inc. raised its position in shares of SBA Communications by 6.1% in the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock worth $269,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In related 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 completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were 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 approximately $1,213,814.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey Stoops sold 49,765 shares of the 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 sale, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. 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 quarter. 1.30% of the stock is currently owned by company insiders.

SBA Communications Stock Up 0.5 %

NASDAQ SBAC opened at $239.47 on Friday. The company has a 50-day moving average price of $224.12 and a 200-day moving average price of $209.24. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The firm 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.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $665.21 million. During the same quarter in the previous year, the business posted $3.24 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s dividend payout ratio is presently 76.86%.

Analyst Ratings Changes

SBAC has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. BMO Capital Markets decreased their price objective on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. KeyCorp boosted their price target on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday. Two equities 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $240.00.

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.