SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,945 shares of the technology company’s stock after selling 336 shares during the quarter. Metis Global Partners LLC’s holdings in SBA Communications were worth $1,254,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new position in shares of SBA Communications in the 4th quarter worth approximately $515,000. FourThought Financial Partners LLC lifted its holdings in shares of SBA Communications by 6.9% in the 4th quarter. FourThought Financial Partners LLC now owns 1,564 shares of the technology company’s stock worth $397,000 after purchasing an additional 101 shares during the last quarter. Vestmark Advisory Solutions Inc. bought a new stake in shares of SBA Communications in the 4th quarter worth approximately $310,000. M&T Bank Corp lifted its holdings in shares of SBA Communications by 13.8% in the 4th quarter. M&T Bank Corp now owns 5,157 shares of the technology company’s stock worth $1,308,000 after purchasing an additional 626 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its holdings in shares of SBA Communications by 38.9% in the 4th quarter. Natixis Advisors L.P. now owns 51,004 shares of the technology company’s stock worth $12,939,000 after purchasing an additional 14,296 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $197.22 on Thursday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The stock has a market cap of $21.32 billion, a PE ratio of 38.67, a price-to-earnings-growth ratio of 0.57 and a beta of 0.59. The business’s fifty day moving average is $208.00 and its 200-day moving average is $222.65.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $3.13 EPS. Equities research analysts predict that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s payout ratio is 76.86%.

Analyst Upgrades and Downgrades

SBAC has been the topic of several recent research reports. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Thursday, March 7th. Wells Fargo & Company cut their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. TD Cowen cut their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. KeyCorp cut their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Finally, Citigroup cut their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $254.75.

About SBA Communications

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.