SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Atom Investors LP

Atom Investors LP lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 59.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,103 shares of the technology company’s stock after selling 32,323 shares during the quarter. Atom Investors LP’s holdings in SBA Communications were worth $5,320,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the third quarter worth about $26,000. Ridgewood Investments LLC acquired a new position in shares of SBA Communications in the 2nd quarter valued at approximately $32,000. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications during the 3rd quarter valued at approximately $35,000. Family Firm Inc. acquired a new stake in shares of SBA Communications during the second quarter worth approximately $36,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications in the second quarter worth $49,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Performance

Shares of SBAC opened at $226.25 on Monday. The firm has a fifty day moving average of $232.78 and a 200-day moving average of $218.45. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 0.76 and a beta of 0.68. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its 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 net margin of 25.76% and a negative return on equity of 13.13%. The firm had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period in the previous year, the firm earned $3.34 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Analyst Ratings Changes

SBAC has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Barclays increased their price target on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Raymond James increased their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Royal Bank of Canada lifted their target price on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

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.