668 Shares in SBA Communications Co. (NASDAQ:SBAC) Acquired by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 668 shares of the technology company’s stock, valued at approximately $169,000.

Other hedge funds also recently added to or reduced their stakes in the company. Emerald Advisers LLC purchased a new position in SBA Communications in the third quarter worth approximately $31,000. CVA Family Office LLC purchased a new position in shares of SBA Communications during the fourth quarter worth $37,000. Pinnacle Bancorp Inc. boosted its position in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after buying an additional 67 shares during the period. Allworth Financial LP boosted its position in shares of SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after buying an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of SBA Communications during the fourth quarter worth $43,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

SBA Communications stock opened at $196.23 on Friday. The stock has a market cap of $21.21 billion, a PE ratio of 42.57, a P/E/G ratio of 1.22 and a beta of 0.56. SBA Communications Co. has a 1-year low of $185.23 and a 1-year high of $263.08. The stock’s fifty day moving average is $210.01 and its two-hundred day moving average is $222.51.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). The company had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.11 EPS. On average, research analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.98 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. SBA Communications’s payout ratio is 85.03%.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SBAC. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. Barclays lowered their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Finally, BMO Capital Markets decreased their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications has a consensus rating of “Buy” and an average price target of $268.00.

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.