Eventide Asset Management LLC Has $5.14 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Eventide Asset Management LLC decreased its holdings in SBA Communications Co. (NASDAQ:SBACGet Rating) by 44.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,200 shares of the technology company’s stock after selling 10,600 shares during the period. Eventide Asset Management LLC’s holdings in SBA Communications were worth $5,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of SBAC. UBS Asset Management Americas Inc. raised its position in shares of SBA Communications by 211.8% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,482,052 shares of the technology company’s stock valued at $489,922,000 after buying an additional 1,006,759 shares in the last quarter. Invesco Ltd. raised its position in shares of SBA Communications by 52.1% in the 4th quarter. Invesco Ltd. now owns 1,446,272 shares of the technology company’s stock valued at $562,630,000 after buying an additional 495,284 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of SBA Communications in the 3rd quarter valued at approximately $71,350,000. Moors & Cabot Inc. acquired a new position in SBA Communications during the 3rd quarter worth approximately $206,000. Finally, Jennison Associates LLC increased its position in SBA Communications by 91.9% during the 4th quarter. Jennison Associates LLC now owns 301,774 shares of the technology company’s stock worth $117,396,000 after purchasing an additional 144,489 shares in the last quarter. Institutional investors and hedge funds own 95.41% of the company’s stock.

Shares of SBAC traded down $1.30 during trading hours on Wednesday, hitting $345.77. The company had a trading volume of 14,651 shares, compared to its average volume of 726,609. The firm has a fifty day moving average price of $343.17 and a 200-day moving average price of $340.00. The stock has a market capitalization of $37.28 billion, a price-to-earnings ratio of 87.64 and a beta of 0.41. SBA Communications Co. has a 52-week low of $286.41 and a 52-week high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last issued its earnings results on Monday, April 25th. The technology company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.72. SBA Communications had a negative return on equity of 8.54% and a net margin of 18.40%. The business had revenue of $619.77 million during the quarter, compared to analyst estimates of $603.91 million. During the same quarter in the previous year, the firm earned $2.58 EPS. SBA Communications’s revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts predict that SBA Communications Co. will post 11.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Thursday, May 19th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Wednesday, May 18th. SBA Communications’s payout ratio is currently 71.72%.

In other news, EVP Kurt L. Bagwell sold 3,757 shares of the stock in a transaction that occurred on Wednesday, March 9th. The stock was sold at an average price of $330.00, for a total transaction of $1,239,810.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George R. Krouse, Jr. sold 500 shares of the stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $328.88, for a total value of $164,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,149 shares of company stock valued at $2,061,835 in the last ninety days. Insiders own 1.80% of the company’s stock.

A number of research firms have recently commented on SBAC. Morgan Stanley upped their price objective on shares of SBA Communications from $384.00 to $412.00 and gave the company an “overweight” rating in a research note on Thursday, April 7th. KeyCorp upped their price objective on shares of SBA Communications from $384.00 to $393.00 and gave the stock an “overweight” rating in a report on Tuesday, April 26th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Moffett Nathanson downgraded shares of SBA Communications from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $393.00 to $380.00 in a research note on Monday, April 11th. Finally, Barclays lifted their price target on shares of SBA Communications from $378.00 to $385.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 26th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $392.67.

SBA Communications Company Profile (Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

Further Reading

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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