Jane Street Group LLC Has $3.07 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Jane Street Group LLC cut its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 33.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,051 shares of the technology company's stock after selling 7,588 shares during the period. Jane Street Group LLC's holdings in SBA Communications were worth $3,067,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its holdings in SBA Communications by 23.9% in the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock valued at $260,000 after purchasing an additional 246 shares during the period. Oak Thistle LLC boosted its holdings in SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company's stock valued at $1,350,000 after purchasing an additional 2,863 shares during the period. Czech National Bank boosted its holdings in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company's stock valued at $4,751,000 after purchasing an additional 1,421 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock valued at $266,675,000 after purchasing an additional 38,725 shares during the period. Finally, NEOS Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 1,243 shares during the period. 97.35% of the stock is owned by institutional investors.

SBA Communications Trading Up 1.7%

SBAC stock traded up $3.99 during trading on Friday, hitting $233.08. 1,084,678 shares of the stock traded hands, compared to its average volume of 901,481. SBA Communications Co. has a one year low of $185.44 and a one year high of $252.64. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 36.76, a P/E/G ratio of 0.74 and a beta of 0.83. The company has a 50 day simple moving average of $224.46 and a 200 day simple moving average of $216.04.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's payout ratio is presently 60.91%.

Analysts Set New Price Targets

SBAC has been the subject of a number of analyst reports. 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. Barclays raised their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday, April 29th. Raymond James reaffirmed a "strong-buy" rating and set a $268.00 price objective (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Finally, BMO Capital Markets raised their price objective 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. Six investment 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. Based on data from MarketBeat.com, SBA Communications has an average rating of "Moderate Buy" and an average target price of $252.38.

Insider Buying and Selling at SBA Communications

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 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 owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were 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. The trade was a 32.21% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

SBA Communications 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.