SBA Communications Co. (NASDAQ:SBAC) Shares Sold by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 175,157 shares of the technology company’s stock after selling 9,971 shares during the quarter. BNP Paribas Arbitrage SA owned 0.16% of SBA Communications worth $55,823,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CSat Investment Advisory L.P. lifted its holdings in shares of SBA Communications by 57.1% in the 1st quarter. CSat Investment Advisory L.P. now owns 110 shares of the technology company’s stock worth $31,000 after acquiring an additional 40 shares during the last quarter. Glassman Wealth Services increased its stake in SBA Communications by 70.8% during the 1st quarter. Glassman Wealth Services now owns 123 shares of the technology company’s stock worth $34,000 after buying an additional 51 shares during the period. Certified Advisory Corp purchased a new stake in SBA Communications during the 1st quarter worth approximately $39,000. BDO Wealth Advisors LLC increased its stake in SBA Communications by 128.8% during the 1st quarter. BDO Wealth Advisors LLC now owns 151 shares of the technology company’s stock worth $42,000 after buying an additional 85 shares during the period. Finally, Jacobi Capital Management LLC increased its stake in SBA Communications by 905.6% during the 1st quarter. Jacobi Capital Management LLC now owns 181 shares of the technology company’s stock worth $50,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Shares of SBAC opened at $356.57 on Wednesday. The company has a 50-day simple moving average of $347.58 and a 200-day simple moving average of $310.95. The company has a market capitalization of $39.06 billion, a PE ratio of 148.57 and a beta of 0.21. SBA Communications Co. has a 52-week low of $232.88 and a 52-week high of $369.56.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Sunday, August 1st. The technology company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.69. The firm had revenue of $575.40 million during the quarter, compared to the consensus estimate of $559.96 million. SBA Communications had a net margin of 12.33% and a negative return on equity of 5.61%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period last year, the firm posted $0.20 EPS. As a group, equities analysts forecast that SBA Communications Co. will post 9.9 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, August 26th will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, August 25th. This represents a $2.32 dividend on an annualized basis and a yield of 0.65%. SBA Communications’s dividend payout ratio (DPR) is 24.58%.

In other SBA Communications news, VP Thomas P. Hunt sold 50,000 shares of the business’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $357.69, for a total transaction of $17,884,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kurt L. Bagwell sold 44,800 shares of the business’s stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $346.15, for a total transaction of $15,507,520.00. Following the sale, the executive vice president now owns 48,084 shares of the company’s stock, valued at approximately $16,644,276.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 292,752 shares of company stock worth $105,204,175. 2.20% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on SBAC shares. Morgan Stanley upped their target price on shares of SBA Communications from $337.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, September 10th. They noted that the move was a valuation call. Royal Bank of Canada upped their target price on shares of SBA Communications from $335.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Truist Securities increased their price objective on shares of SBA Communications from $335.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 3rd. KeyCorp increased their price objective on shares of SBA Communications from $365.00 to $373.00 and gave the company an “overweight” rating in a research report on Tuesday, August 3rd. Finally, Cowen increased their target price on shares of SBA Communications from $337.00 to $347.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $360.75.

SBA Communications Company Profile

SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.

Recommended Story: How do buyers and sellers choose a strike price?

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Co. (NASDAQ:SBAC).

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.