Argonautica Private Wealth Management Inc. Lowers Stake in SBA Communications Co. (NASDAQ:SBAC)

Argonautica Private Wealth Management Inc. lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,992 shares of the technology company’s stock after selling 118 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in SBA Communications were worth $505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Atria Wealth Solutions Inc. lifted its holdings in SBA Communications by 50.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,179 shares of the technology company’s stock worth $807,000 after buying an additional 1,072 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of SBA Communications during the 4th quarter valued at $77,000. GAMMA Investing LLC purchased a new stake in shares of SBA Communications during the 4th quarter valued at $169,000. Marks Group Wealth Management Inc lifted its holdings in shares of SBA Communications by 4.4% during the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after purchasing an additional 54 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of SBA Communications during the 4th quarter valued at $983,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SBAC shares. BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Barclays cut their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Finally, Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications presently has an average rating of “Buy” and an average price target of $268.00.

Insider Activity

In related news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly 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 at this link. Insiders own 1.30% of the company’s stock.

SBA Communications Trading Down 0.9 %

SBAC traded down $1.70 during midday trading on Friday, hitting $196.23. 644,235 shares of the company were exchanged, compared to its average volume of 826,238. The company’s 50 day simple moving average is $210.01 and its 200 day simple moving average is $222.51. The firm has a market capitalization of $21.21 billion, a price-to-earnings ratio of 42.57, a price-to-earnings-growth 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.

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

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.98 per share. The ex-dividend date was Wednesday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

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.