SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC increased its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 255.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,288 shares of the technology company's stock after buying an additional 7,394 shares during the quarter. Squarepoint Ops LLC's holdings in SBA Communications were worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. NewEdge Advisors LLC increased its stake in SBA Communications by 23.9% during the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock worth $260,000 after acquiring an additional 246 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock worth $266,675,000 after purchasing an additional 38,725 shares during the period. NEOS Investment Management LLC increased its position in SBA Communications by 29.3% during the 4th quarter. NEOS Investment Management LLC now owns 5,488 shares of the technology company's stock worth $1,118,000 after purchasing an additional 1,243 shares in the last quarter. Victory Capital Management Inc. raised its holdings in SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock valued at $363,015,000 after buying an additional 565,137 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in SBA Communications by 35.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,476 shares of the technology company's stock valued at $1,116,000 after buying an additional 1,435 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Price Performance

SBAC traded up $0.73 during trading on Friday, hitting $230.97. The company had a trading volume of 1,256,458 shares, compared to its average volume of 896,334. The company has a market cap of $24.82 billion, a PE ratio of 36.43, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1-year low of $187.06 and a 1-year high of $252.64. The business has a 50-day moving average of $226.55 and a 200-day moving average of $216.38.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.92%. SBA Communications's payout ratio is 60.91%.

Insider Buying and Selling

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now directly owns 6,079 shares of the company's stock, valued at approximately $1,362,790.22. The trade was a 26.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $1,202,950.00. Following the sale, the director now owns 10,522 shares in the company, valued at approximately $2,531,487.98. This trade 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.

Analyst Ratings Changes

Several equities research analysts have issued reports on SBAC shares. Bank of America started coverage on shares of SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 price objective for the company. Barclays increased their price target on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft cut SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a research note on Tuesday, May 20th. JMP Securities increased their target price on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research note on Tuesday, April 29th. Finally, BMO Capital Markets raised their target price on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday, April 29th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus 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.