GAMMA Investing LLC Has $81.51 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

GAMMA Investing LLC lifted its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 30,393.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 370,497 shares of the technology company's stock after purchasing an additional 369,282 shares during the quarter. GAMMA Investing LLC owned 0.34% of SBA Communications worth $81,513,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Evermay Wealth Management LLC bought a new stake in SBA Communications during the fourth quarter worth approximately $27,000. Graney & King LLC bought a new position in SBA Communications during the 4th quarter valued at $29,000. Oakworth Capital Inc. increased its position in shares of 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. State of Wyoming raised its stake in shares of SBA Communications by 75.8% in the 4th quarter. State of Wyoming now owns 276 shares of the technology company's stock worth $56,000 after buying an additional 119 shares in the last quarter. Finally, Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications in the fourth quarter valued at $73,000. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of NASDAQ SBAC traded down $1.58 during mid-day trading on Tuesday, reaching $229.48. The company had a trading volume of 627,171 shares, compared to its average volume of 890,999. SBA Communications Co. has a twelve month low of $187.06 and a twelve month high of $252.64. The stock has a market capitalization of $24.66 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The stock's 50 day moving average is $227.21 and its 200-day moving average is $216.50.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SBAC. Citigroup lifted their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. JMP Securities raised their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Tuesday, April 29th. BMO Capital Markets boosted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Tuesday, April 29th. Morgan Stanley began coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price for the company. Finally, Wells Fargo & Company upped their price target on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $253.43.

Insiders Place Their Bets

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction 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. This trade represents a 26.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack Langer sold 5,000 shares of the business's 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 $2,531,487.98. This represents a 32.21% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

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.