SG Americas Securities LLC Sells 37,218 Shares of SBA Communications Co. (NASDAQ:SBAC)

SG Americas Securities LLC reduced its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 85.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,291 shares of the technology company's stock after selling 37,218 shares during the quarter. SG Americas Securities LLC's holdings in SBA Communications were worth $1,384,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in SBA Communications by 22.0% during the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after purchasing an additional 45 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in SBA Communications by 2.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock worth $495,000 after purchasing an additional 50 shares during the last quarter. Auxano Advisors LLC lifted its holdings 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 purchasing an additional 54 shares during the last quarter. DoubleLine ETF Adviser LP lifted its holdings in SBA Communications by 0.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock worth $1,577,000 after purchasing an additional 57 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted 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 purchasing an additional 61 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SBAC. Wall Street Zen cut SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Bank of America started coverage on SBA Communications in a report on Monday, May 19th. They issued a "buy" rating and a $260.00 price objective for the company. Barclays lifted their price objective on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a 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 report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a report on Tuesday, May 20th. Seven investment 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 company's stock. According to MarketBeat.com, SBA Communications has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

SBA Communications Stock Up 1.0%

Shares of SBAC stock opened at $230.12 on Tuesday. SBA Communications Co. has a twelve month low of $187.06 and a twelve month high of $252.64. The company has a market cap of $24.73 billion, a P/E ratio of 36.30, a P/E/G ratio of 0.74 and a beta of 0.78. The business has a fifty day simple moving average of $229.26 and a 200 day simple moving average of $216.79.

SBA Communications Dividend Announcement

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 issued a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.93%. SBA Communications's payout ratio is currently 60.91%.

Insiders Place Their Bets

In other SBA Communications news, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred 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 completion of the sale, the director now directly owns 10,522 shares in the company, valued at approximately $2,531,487.98. The trade was a 32.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

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.

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