Swedbank AB Buys 410 Shares of SBA Communications Co. (NASDAQ:SBAC)

Swedbank AB increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 79,661 shares of the technology company’s stock after purchasing an additional 410 shares during the quarter. Swedbank AB’s holdings in SBA Communications were worth $19,174,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SBAC. Ridgewood Investments LLC bought a new position in shares of SBA Communications during the 2nd quarter valued at approximately $32,000. Family Firm Inc. bought a new position in shares of SBA Communications during the 2nd quarter valued at approximately $36,000. Global X Japan Co. Ltd. bought a new position in shares of SBA Communications during the 2nd quarter valued at approximately $49,000. Versant Capital Management Inc increased its position in shares of SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after purchasing an additional 270 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of SBA Communications during the 2nd quarter valued at approximately $60,000. Institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,590 shares of company stock valued at $11,483,981. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SBAC shares. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. boosted their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. TD Cowen dropped their price objective on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company boosted their price objective on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $251.58.

SBA Communications Trading Down 0.2 %

SBAC opened at $248.75 on Thursday. The firm has a market cap of $26.73 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 0.70 and a beta of 0.67. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The stock has a fifty day moving average price of $232.92 and a 200-day moving average price of $212.04.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). The company had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.24 earnings per share. On average, equities research analysts forecast that SBA Communications Co. will post 12.52 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s payout ratio is 76.86%.

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.