Vident Advisory LLC Trims Position in SBA Communications Co. (NASDAQ:SBAC)

Vident Advisory LLC trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 80.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,089 shares of the technology company's stock after selling 4,413 shares during the quarter. Vident Advisory LLC's holdings in SBA Communications were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in SBA Communications by 15.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after purchasing an additional 50 shares during the last quarter. Auxano Advisors LLC grew its position in SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock valued at $495,000 after purchasing an additional 54 shares during the last quarter. DoubleLine ETF Adviser LP grew its position 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 valued at $1,577,000 after purchasing an additional 57 shares during the last quarter. Lake Street Advisors Group LLC grew its position 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 valued at $225,000 after purchasing an additional 61 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in shares of SBA Communications by 1.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock valued at $1,011,000 after acquiring an additional 64 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Joshua Koenig sold 2,209 shares of the company's 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 transaction of $1,202,950.00. Following the completion of the transaction, the director now owns 10,522 shares of the company's stock, valued at $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

SBA Communications Trading Down 0.7%

SBAC traded down $1.58 during trading hours on Tuesday, hitting $229.48. The company's stock had a trading volume of 627,171 shares, compared to its average volume of 891,837. The business's 50-day moving average price is $227.47 and its 200-day moving average price is $216.59. SBA Communications Co. has a 12 month low of $187.06 and a 12 month high of $252.64. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

Analyst Ratings Changes

A number of analysts have recently issued reports on SBAC shares. BMO Capital Markets raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday, April 29th. Raymond James reaffirmed a "strong-buy" rating and set a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Bank of America started coverage on shares of SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 price target on the stock. Morgan Stanley started coverage on shares of SBA Communications in a report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, SBA Communications has an average rating of "Moderate Buy" and a consensus target price of $253.43.

About SBA Communications

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.