Jefferies Financial Group Inc. Has $620,000 Holdings in SBA Communications Co. (NASDAQ:SBAC)

Jefferies Financial Group Inc. trimmed its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 76.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,042 shares of the technology company's stock after selling 9,968 shares during the quarter. Jefferies Financial Group Inc.'s holdings in SBA Communications were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Barclays PLC increased its stake in shares of SBA Communications by 71.0% in the third quarter. Barclays PLC now owns 658,029 shares of the technology company's stock valued at $158,386,000 after buying an additional 273,237 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock valued at $1,024,049,000 after buying an additional 605,872 shares during the period. Park Avenue Securities LLC raised its position in shares of SBA Communications by 29.1% during the fourth quarter. Park Avenue Securities LLC now owns 4,630 shares of the technology company's stock worth $944,000 after acquiring an additional 1,045 shares during the last quarter. Avanza Fonder AB bought a new position in shares of SBA Communications in the 4th quarter valued at about $1,853,000. Finally, Wedge Capital Management L L P NC grew its position in shares of SBA Communications by 10.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 16,215 shares of the technology company's stock worth $3,305,000 after buying an additional 1,547 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Trading Down 0.7%

Shares of SBA Communications stock traded down $1.73 during trading on Tuesday, hitting $233.78. 648,249 shares of the stock were exchanged, compared to its average volume of 899,242. SBA Communications Co. has a 1-year low of $185.44 and a 1-year high of $252.64. The stock has a market capitalization of $25.16 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The company has a fifty day moving average price of $224.85 and a 200-day moving average price of $215.90.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors 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 dividend yield of 1.90%. The ex-dividend date is Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of analyst reports. Bank of America initiated coverage on SBA Communications in a research note on Monday. They issued a "buy" rating and a $260.00 price target on the stock. Raymond James reiterated a "strong-buy" rating and issued a $268.00 target price (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Morgan Stanley began coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective for the company. Wells Fargo & Company raised their price target on SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective for the company. in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has a consensus rating of "Moderate Buy" and a consensus target price of $253.43.

Insider Activity at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were 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 owns 10,522 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Also, VP Joshua Koenig sold 2,209 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

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.