Czech National Bank Has $5.43 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Czech National Bank increased its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,680 shares of the technology company's stock after purchasing an additional 1,366 shares during the quarter. Czech National Bank's holdings in SBA Communications were worth $5,430,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBAC. Legacy Wealth Asset Management LLC lifted its stake in SBA Communications by 3.7% in the first quarter. Legacy Wealth Asset Management LLC now owns 8,788 shares of the technology company's stock valued at $1,933,000 after buying an additional 313 shares during the last quarter. Rhumbline Advisers raised its position in SBA Communications by 6.0% in the first quarter. Rhumbline Advisers now owns 241,332 shares of the technology company's stock worth $53,095,000 after acquiring an additional 13,662 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in SBA Communications in the 1st quarter worth about $220,000. Parallel Advisors LLC increased its stake in SBA Communications by 40.9% in the 1st quarter. Parallel Advisors LLC now owns 940 shares of the technology company's stock worth $207,000 after purchasing an additional 273 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in SBA Communications by 30,393.6% during the 1st quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock valued at $81,513,000 after purchasing an additional 369,282 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Trading Down 1.7%

SBAC traded down $3.97 during midday trading on Friday, reaching $225.68. The company's stock had a trading volume of 482,447 shares, compared to its average volume of 891,863. SBA Communications Co. has a twelve month low of $187.06 and a twelve month high of $252.64. The stock has a market cap of $24.25 billion, a P/E ratio of 35.60, a PEG ratio of 0.74 and a beta of 0.78. The company has a fifty day simple moving average of $228.05 and a 200 day simple moving average of $216.79.

SBA Communications Dividend Announcement

The firm 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 $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.97%. SBA Communications's dividend payout ratio is 60.91%.

Insider Buying and Selling

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction on 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 sale, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.92% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SBAC shares. Citigroup increased their price target on shares of SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. JMP Securities lifted their price objective on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Tuesday, April 29th. Wall Street Zen cut SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Morgan Stanley began coverage on SBA Communications in a research note on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price target for the company. Finally, BMO Capital Markets boosted their price target 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. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $253.43.

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.