Walleye Capital LLC Trims Stake in SBA Communications Co. (NASDAQ:SBAC)

Walleye Capital LLC trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,882 shares of the technology company’s stock after selling 6,843 shares during the quarter. Walleye Capital LLC owned 0.06% of SBA Communications worth $14,654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBAC. Ashton Thomas Securities LLC purchased a new position in SBA Communications during the third quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in SBA Communications in the second quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new stake in shares of SBA Communications during the third quarter valued at about $35,000. Family Firm Inc. purchased a new position in shares of SBA Communications in the 2nd quarter worth approximately $36,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of SBA Communications during the 2nd quarter worth approximately $49,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

SBAC opened at $226.25 on Friday. The firm has a fifty day moving average price of $232.78 and a 200 day moving average price of $218.20. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The stock has a market cap of $24.33 billion, a P/E ratio of 35.69, a P/E/G ratio of 0.77 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. During the same period in the previous year, the company earned $3.34 earnings per share. The company’s revenue was down 2.2% compared to the same quarter last year. Equities analysts expect that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.73%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is presently 61.83%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction 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 represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent analyst reports. Barclays upped their price target on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company increased their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Raymond James boosted their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $257.23.

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.