Machina Capital S.A.S. Buys Shares of 1,354 SBA Communications Co. (NASDAQ:SBAC)

Machina Capital S.A.S. purchased a new position in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,354 shares of the technology company’s stock, valued at approximately $343,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBAC. Emerald Advisers LLC bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $31,000. CVA Family Office LLC acquired a new position in shares of SBA Communications in the 4th quarter worth approximately $37,000. Pinnacle Bancorp Inc. raised its holdings in shares of SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after buying an additional 67 shares in the last quarter. Allworth Financial LP raised its holdings in shares of SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after buying an additional 45 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of SBA Communications in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SBAC. Citigroup reduced their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Barclays lowered their target price on SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. BMO Capital Markets lowered their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Wells Fargo & Company lowered their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Finally, Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Thursday, March 7th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $254.75.

SBA Communications Stock Performance

Shares of NASDAQ SBAC traded up $3.41 during trading on Tuesday, hitting $196.00. 962,910 shares of the company traded hands, compared to its average volume of 1,008,066. The business’s fifty day moving average is $208.08 and its 200 day moving average is $222.62. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The firm has a market capitalization of $21.19 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 0.57 and a beta of 0.59.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.21 by $0.21. The company had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.13 earnings per share. On average, analysts predict that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s payout ratio is 76.86%.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

SBA Communications Company 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.