Wedge Capital Management L L P NC Purchases 1,547 Shares of SBA Communications Co. (NASDAQ:SBAC)

Wedge Capital Management L L P NC increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,215 shares of the technology company’s stock after buying an additional 1,547 shares during the quarter. Wedge Capital Management L L P NC’s holdings in SBA Communications were worth $3,305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. Ashton Thomas Securities LLC bought a new stake in shares of SBA Communications in the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in SBA Communications during the third quarter worth $35,000. Friedenthal Financial bought a new stake in SBA Communications during the third quarter worth $50,000. Farther Finance Advisors LLC grew its position in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares during the period. Finally, Eastern Bank bought a new stake in shares of SBA Communications in the 3rd quarter valued at about $58,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. TD Cowen lifted their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Raymond James lifted their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays decreased their target price on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.77.

SBA Communications Stock Down 0.3 %

NASDAQ:SBAC opened at $203.61 on Monday. The firm has a market capitalization of $21.89 billion, a P/E ratio of 32.12, a P/E/G ratio of 0.68 and a beta of 0.69. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a fifty day moving average of $211.30 and a 200-day moving average of $221.39.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 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 during the quarter, compared to the consensus estimate of $669.29 million. During the same period in the previous year, the firm earned $3.34 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.93%. SBA Communications’s dividend payout ratio is presently 61.83%.

Insider Activity at SBA Communications

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

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.