Sei Investments Co. Has $103.13 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Sei Investments Co. increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 25.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 506,029 shares of the technology company’s stock after purchasing an additional 101,799 shares during the period. Sei Investments Co.’s holdings in SBA Communications were worth $103,129,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its holdings in shares of SBA Communications by 15.1% in 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 last quarter. Versant Capital Management Inc increased its holdings in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after purchasing an additional 53 shares during the last quarter. Auxano Advisors LLC increased its holdings in shares of SBA Communications by 2.3% in the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock valued at $495,000 after purchasing an additional 54 shares during the last quarter. Lake Street Advisors Group LLC increased its holdings in shares of 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 purchasing an additional 61 shares during the last quarter. Finally, Torray Investment Partners LLC increased its holdings in shares of SBA Communications by 0.7% in the fourth quarter. Torray Investment Partners LLC now owns 9,788 shares of the technology company’s stock valued at $1,995,000 after purchasing an additional 67 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBAC has been the topic of several research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company upped their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Barclays upped their price target on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $252.85.

SBA Communications Stock Up 0.3 %

SBAC opened at $221.64 on Friday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a 50-day simple moving average of $209.59 and a 200 day simple moving average of $220.10. The stock has a market capitalization of $23.85 billion, a price-to-earnings ratio of 34.96, a P/E/G ratio of 0.74 and a beta of 0.74.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $1.11 dividend. The ex-dividend date is Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio is 63.98%.

Insider Transactions at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.30% 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.