2,877 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by Aristeia Capital L.L.C.

Aristeia Capital L.L.C. purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,877 shares of the technology company's stock, valued at approximately $586,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its position in SBA Communications by 71.0% during the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company's stock worth $158,386,000 after buying an additional 273,237 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of SBA Communications by 19.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,573 shares of the technology company's stock worth $379,000 after purchasing an additional 258 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of SBA Communications by 8.8% during the third quarter. Tidal Investments LLC now owns 2,868 shares of the technology company's stock worth $690,000 after purchasing an additional 233 shares during the last quarter. Synovus Financial Corp boosted its holdings in SBA Communications by 13.0% in the third quarter. Synovus Financial Corp now owns 13,222 shares of the technology company's stock valued at $3,183,000 after purchasing an additional 1,522 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

Insiders Place Their Bets

In other news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the transaction, the director now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on SBAC shares. Barclays upped their target price on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. JMP Securities upped their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 29th. Citigroup lifted their target price on shares of SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, BMO Capital Markets upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $252.38.

SBA Communications Stock Down 0.0 %

Shares of SBA Communications stock traded down $0.01 during trading hours on Monday, reaching $241.95. 700,854 shares of the company's stock were exchanged, compared to its average volume of 897,869. The business has a fifty day moving average of $222.17 and a two-hundred day moving average of $216.18. The company has a market capitalization of $26.04 billion, a P/E ratio of 38.16, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1 year low of $185.44 and a 1 year high of $252.64.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be issued a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.84%. SBA Communications's payout ratio is 60.91%.

SBA Communications Profile

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.