SBA Communications Co. (NASDAQ:SBAC) is Boothbay Fund Management LLC's 7th Largest Position

Boothbay Fund Management LLC raised its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,662 shares of the technology company's stock after buying an additional 18,234 shares during the quarter. SBA Communications comprises about 0.8% of Boothbay Fund Management LLC's portfolio, making the stock its 7th largest position. Boothbay Fund Management LLC owned about 0.15% of SBA Communications worth $32,539,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its stake in shares of SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after purchasing an additional 50 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after purchasing an additional 53 shares in the last quarter. Auxano Advisors LLC boosted its position in SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock worth $495,000 after buying an additional 54 shares during the period. Lake Street Advisors Group LLC grew its holdings in SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock worth $225,000 after acquiring an additional 61 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in SBA Communications by 1.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock valued at $1,011,000 after acquiring an additional 64 shares during the period. 97.35% of the stock is owned by institutional investors.

SBA Communications Price Performance

Shares of SBAC stock traded down $1.90 on Thursday, reaching $241.51. 305,609 shares of the company were exchanged, compared to its average volume of 902,160. The company has a market cap of $25.99 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 0.74 and a beta of 0.83. The company has a 50-day moving average of $220.63 and a 200-day moving average of $216.70. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.84%. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

Insider Transactions at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SBAC shares. Citigroup lifted their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley started coverage on SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective for the company. BMO Capital Markets increased their price objective on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday. Barclays increased their price objective on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Wells Fargo & Company increased their price objective on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of "Moderate Buy" and an average target price of $252.38.

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.