SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 47.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,848 shares of the technology company's stock after acquiring an additional 81,570 shares during the quarter. BNP Paribas Financial Markets owned about 0.23% of SBA Communications worth $51,327,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of SBA Communications by 71.0% during the third quarter. Barclays PLC now owns 658,029 shares of the technology company's stock worth $158,386,000 after purchasing an additional 273,237 shares in the last quarter. Tidal Investments LLC lifted its position in SBA Communications by 8.8% during the 3rd quarter. Tidal Investments LLC now owns 2,868 shares of the technology company's stock worth $690,000 after acquiring an additional 233 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after acquiring an additional 605,872 shares during the period. GAMMA Investing LLC grew its position in SBA Communications by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 1,215 shares of the technology company's stock valued at $248,000 after acquiring an additional 226 shares in the last quarter. Finally, First Hawaiian Bank raised its stake in shares of SBA Communications by 91.0% during the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock valued at $2,522,000 after purchasing an additional 5,897 shares during the period. 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, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the transaction, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBAC. Citigroup raised their price target 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. BMO Capital Markets raised their target price on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research note on Tuesday, April 29th. JMP Securities increased their price target on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a report on Tuesday, April 29th. Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price objective on the stock. Finally, Raymond James reiterated a "strong-buy" rating and set a $268.00 target price (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $252.38.

SBA Communications Stock Up 1.3 %

SBAC stock traded up $3.04 during midday trading on Friday, reaching $239.66. The company had a trading volume of 670,644 shares, compared to its average volume of 897,620. The stock has a 50 day moving average price of $223.82 and a 200 day moving average price of $216.28. The firm has a market capitalization of $25.79 billion, a PE ratio of 37.80, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a fifty-two week low of $185.44 and a fifty-two week high of $252.64.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.85%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio is presently 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.