SBA Communications Co. (NASDAQ:SBAC) Shares Sold by XTX Topco Ltd

XTX Topco Ltd reduced its position in SBA Communications Co. (NASDAQ:SBAC) by 86.8% in the 3rd quarter, Holdings Channel reports. The firm owned 1,017 shares of the technology company’s stock after selling 6,710 shares during the quarter. XTX Topco Ltd’s holdings in SBA Communications were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the third quarter worth $26,000. Ridgewood Investments LLC acquired a new position in SBA Communications during the second quarter worth about $32,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications during the 3rd quarter valued at about $35,000. Family Firm Inc. acquired a new stake in SBA Communications in the 2nd quarter valued at about $36,000. Finally, Global X Japan Co. Ltd. purchased a new position in SBA Communications in the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Activity

In other SBA Communications news, 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 sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SBAC. Wells Fargo & Company increased their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. TD Cowen lifted their price target on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group raised their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.92.

SBA Communications Stock Performance

SBA Communications stock opened at $201.06 on Thursday. The firm has a 50 day moving average price of $226.97 and a 200 day moving average price of $220.39. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $256.68. The company has a market capitalization of $21.62 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) 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 analysts’ expectations of $669.29 million. During the same quarter in the prior year, the firm posted $3.34 EPS. SBA Communications’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.95%. SBA Communications’s dividend payout ratio is presently 61.83%.

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.