Czech National Bank Raises Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Czech National Bank raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,893 shares of the technology company’s stock after purchasing an additional 1,418 shares during the period. Czech National Bank’s holdings in SBA Communications were worth $5,270,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in SBA Communications in the 2nd quarter valued at $32,000. Family Firm Inc. purchased a new position in SBA Communications during the second quarter valued at $36,000. Quarry LP grew its position in shares of SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after purchasing an additional 132 shares during the period. Global X Japan Co. Ltd. purchased a new stake in shares of SBA Communications during the second quarter worth about $49,000. Finally, Versant Capital Management Inc raised its position in shares of SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after purchasing an additional 270 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the transaction, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,590 shares of company stock valued at $11,483,981 over the last 90 days. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. KeyCorp lifted their price objective on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Wells Fargo & Company boosted their price target on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Royal Bank of Canada upped their target price on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $247.42.

SBA Communications Price Performance

SBA Communications stock opened at $233.23 on Friday. The stock has a market cap of $25.07 billion, a price-to-earnings ratio of 45.73, a price-to-earnings-growth ratio of 0.71 and a beta of 0.67. The firm has a 50 day simple moving average of $231.10 and a 200-day simple moving average of $211.20. 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, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same period last year, the business earned $3.24 EPS. SBA Communications’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.68%. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

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.