Polar Asset Management Partners Inc. Has $11.03 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Polar Asset Management Partners Inc. lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,100 shares of the technology company's stock after selling 29,500 shares during the quarter. Polar Asset Management Partners Inc. owned 0.05% of SBA Communications worth $11,026,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Dodge & Cox grew its holdings in shares of SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after buying an additional 5,722,740 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of SBA Communications by 16.6% in the third 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 in the last quarter. Geode Capital Management LLC raised its position in shares of SBA Communications by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 2,886,158 shares of the technology company's stock worth $586,827,000 after purchasing an additional 71,023 shares during the period. Deutsche Bank AG raised its position in shares of SBA Communications by 5.9% during the fourth quarter. Deutsche Bank AG now owns 2,411,920 shares of the technology company's stock worth $491,549,000 after purchasing an additional 134,624 shares during the period. Finally, Cohen & Steers Inc. lifted its holdings in shares of SBA Communications by 29.8% during the 4th quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock valued at $383,762,000 after purchasing an additional 432,644 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the sale, the director now owns 10,522 shares of the company's stock, valued at $2,531,487.98. This trade represents a 32.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

SBA Communications Stock Up 0.5%

Shares of NASDAQ:SBAC traded up $1.21 during midday trading on Thursday, hitting $230.24. The stock had a trading volume of 512,421 shares, compared to its average volume of 895,113. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The business's 50-day simple moving average is $226.32 and its 200-day simple moving average is $216.31. The company has a market cap of $24.74 billion, a P/E ratio of 36.32, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Announces Dividend

The firm also recently declared 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. This represents a $4.44 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's dividend payout ratio is 60.91%.

Wall Street Analyst Weigh In

SBAC has been the topic of several research analyst reports. Raymond James restated a "strong-buy" rating and set a $268.00 target price (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Wall Street Zen lowered SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Barclays boosted their target price on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research note on Tuesday, April 29th. BMO Capital Markets raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company raised their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Seven equities research 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 company. Based on data from MarketBeat, SBA Communications has a consensus rating of "Moderate Buy" and an average target price 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.