GAMMA Investing LLC Grows Stock Position in SBA Communications Co. (NASDAQ:SBAC)

GAMMA Investing LLC raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 22.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,215 shares of the technology company’s stock after acquiring an additional 226 shares during the period. GAMMA Investing LLC’s holdings in SBA Communications were worth $248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SBAC. Victory Capital Management Inc. boosted its position in shares of SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of SBA Communications by 377.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of SBA Communications during the 2nd quarter valued at $134,738,000. JPMorgan Chase & Co. increased its holdings in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after buying an additional 605,872 shares during the last quarter. Finally, Long Pond Capital LP purchased a new position in shares of SBA Communications in the 2nd quarter worth $83,687,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SBAC. JPMorgan Chase & Co. upped their price target on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Raymond James raised their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley increased their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group lifted their target price 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. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.92.

Insider Activity at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

SBA Communications Stock Down 1.5 %

SBAC stock opened at $195.89 on Wednesday. The stock’s 50 day moving average is $215.72 and its two-hundred day moving average is $221.32. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The company has a market capitalization of $21.06 billion, a PE ratio of 30.90, a P/E/G ratio of 0.72 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter last year, the firm posted $3.34 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a $0.98 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

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.