Schonfeld Strategic Advisors LLC Has $2.47 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Schonfeld Strategic Advisors LLC increased its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,102 shares of the technology company's stock after buying an additional 2,842 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in SBA Communications were worth $2,466,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBAC. Dodge & Cox boosted its stake in shares of SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after buying an additional 5,722,740 shares during the last quarter. Norges Bank bought a new stake in shares of SBA Communications in the 4th quarter worth about $268,287,000. Wealthfront Advisers LLC raised its stake in shares of SBA Communications by 23,553.0% in the 4th quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company's stock valued at $229,648,000 after purchasing an additional 1,122,064 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake 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 worth $363,015,000 after purchasing an additional 565,137 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Down 1.0 %

Shares of SBAC stock traded down $2.52 during trading hours on Wednesday, reaching $240.31. 860,649 shares of the stock traded hands, compared to its average volume of 896,892. The business has a fifty day moving average price of $223.11 and a 200 day moving average price of $216.53. SBA Communications Co. has a 1-year low of $185.44 and a 1-year high of $252.64. The firm has a market capitalization of $25.86 billion, a PE ratio of 37.90, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors 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 yield of 1.85%. The ex-dividend date is Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.

Insiders Place Their Bets

In other news, Director Jack Langer sold 5,000 shares of SBA Communications 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 sale, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on SBAC shares. Raymond James reiterated a "strong-buy" rating and set a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. BMO Capital Markets raised their target price 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. Barclays increased their price target on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 29th. StockNews.com lowered shares of SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Citigroup boosted their price target on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $252.38.

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.