D. E. Shaw & Co. Inc. Has $84.09 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

D. E. Shaw & Co. Inc. lowered its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 51.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 412,600 shares of the technology company's stock after selling 437,832 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.38% of SBA Communications worth $84,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Evermay Wealth Management LLC purchased a new position in shares of SBA Communications in the 4th quarter worth approximately $27,000. Graney & King LLC purchased a new stake in shares of SBA Communications in the 4th quarter worth $29,000. Oakworth Capital Inc. increased its position in SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after purchasing an additional 144 shares during the period. CKW Financial Group purchased a new position in SBA Communications during the 4th quarter valued at about $56,000. Finally, Sherman Asset Management Inc. purchased a new stake in shares of SBA Communications during the 4th quarter worth $73,000. Institutional investors own 97.35% of the company's stock.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack Langer sold 5,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was 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 directly owns 10,522 shares of the company's stock, 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 Ratings Changes

A number of analysts recently commented on the stock. StockNews.com cut shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Morgan Stanley initiated coverage on SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective on the stock. Citigroup lifted their price target on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, JMP Securities lifted their target price on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday, April 29th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $252.38.

SBA Communications Stock Up 1.3%

Shares of NASDAQ SBAC traded up $3.04 on Friday, hitting $239.66. The company had a trading volume of 670,644 shares, compared to its average volume of 897,620. SBA Communications Co. has a 12-month low of $185.44 and a 12-month high of $252.64. The business has a 50 day moving average of $223.82 and a two-hundred day moving average of $216.07. The firm has a market capitalization of $25.79 billion, a P/E ratio of 37.80, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

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 dividend of $1.11 per share. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 annualized dividend and a yield of 1.85%. SBA Communications's dividend payout ratio is presently 60.91%.

SBA Communications Company 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.