Avanza Fonder AB Acquires Shares of 9,091 SBA Communications Co. (NASDAQ:SBAC)

Avanza Fonder AB bought a new position in SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,091 shares of the technology company’s stock, valued at approximately $1,853,000.

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

Wall Street Analyst Weigh In

SBAC has been the topic of several analyst reports. Barclays dropped their price objective on SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Raymond James upped 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 lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Monday, January 13th. TD Cowen upped their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.77.

SBA Communications Stock Performance

SBAC stock opened at $203.61 on Friday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 0.68 and a beta of 0.69. The stock’s fifty day moving average is $211.30 and its two-hundred day moving average is $221.16.

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

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.93%. The ex-dividend date was Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Buying and Selling at SBA Communications

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

SBA Communications 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.