Jump Financial LLC Has $282,000 Stake in SBA Communications Co. (NASDAQ:SBAC)

Jump Financial LLC cut its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 55.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,383 shares of the technology company's stock after selling 1,697 shares during the quarter. Jump Financial LLC's holdings in SBA Communications were worth $282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. Exchange Traded Concepts LLC increased its position in shares of SBA Communications by 15.1% during the fourth 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 period. Versant Capital Management Inc raised its stake in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after buying an additional 53 shares in the last quarter. Auxano Advisors LLC lifted its holdings in shares of 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 acquiring an additional 54 shares during the period. Lake Street Advisors Group LLC increased its stake in SBA Communications by 5.8% in the fourth quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock valued at $225,000 after acquiring an additional 61 shares during the period. Finally, Orion Portfolio Solutions LLC raised its position in SBA Communications by 1.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 4,962 shares of the technology company's stock worth $1,011,000 after purchasing an additional 64 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Insider Transactions at SBA Communications

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. BMO Capital Markets increased their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a report on Tuesday. Citizens Jmp raised shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. JMP Securities upped their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Citigroup boosted their target price on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Barclays raised their price target on SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday. Six 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 an average rating of "Moderate Buy" and an average target price of $252.38.

SBA Communications Trading Down 0.7 %

Shares of NASDAQ:SBAC traded down $1.77 during trading on Thursday, hitting $241.63. 376,416 shares of the company's stock were exchanged, compared to its average volume of 902,450. The firm has a 50-day moving average price of $220.63 and a two-hundred day moving average price of $216.70. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The firm has a market cap of $26.00 billion, a P/E ratio of 38.07, a PEG ratio of 0.74 and a beta of 0.83.

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 given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

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.