HB Wealth Management LLC Sells 121 Shares of SBA Communications Co. (NASDAQ:SBAC)

HB Wealth Management LLC lowered its position in SBA Communications Co. (NASDAQ:SBAC) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,269 shares of the technology company’s stock after selling 121 shares during the quarter. HB Wealth Management LLC’s holdings in SBA Communications were worth $259,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SBAC. Public Sector Pension Investment Board increased its holdings in SBA Communications by 17.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,912 shares of the technology company’s stock valued at $2,927,000 after buying an additional 2,186 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in SBA Communications by 61.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 20,705 shares of the technology company’s stock valued at $4,064,000 after acquiring an additional 7,853 shares during the period. Squarepoint Ops LLC raised its position in SBA Communications by 238.2% in the second quarter. Squarepoint Ops LLC now owns 10,875 shares of the technology company’s stock worth $2,135,000 after purchasing an additional 7,659 shares in the last quarter. AQR Capital Management LLC lifted its stake in SBA Communications by 500.0% during the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock worth $72,375,000 after purchasing an additional 307,530 shares during the period. Finally, MBB Public Markets I LLC acquired a new stake in SBA Communications during the second quarter valued at approximately $1,702,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $196.83 on Friday. The company’s 50 day simple moving average is $209.87 and its 200 day simple moving average is $221.45. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The firm has a market capitalization of $21.16 billion, a P/E ratio of 31.05, a P/E/G ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period last year, the firm earned $3.34 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts expect that SBA Communications Co. will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.99%. The ex-dividend date was Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SBAC shares. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday. KeyCorp upped their target price on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company reduced their price target on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday. TD Cowen upped their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Raymond James increased their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.46.

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.