BNP Paribas Financial Markets Acquires 23,473 Shares of SBA Communications Co. (NASDAQ:SBAC)

BNP Paribas Financial Markets grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 16.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 170,278 shares of the technology company’s stock after acquiring an additional 23,473 shares during the period. BNP Paribas Financial Markets owned about 0.16% of SBA Communications worth $40,986,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. lifted its holdings in SBA Communications by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,781 shares of the technology company’s stock worth $356,000 after buying an additional 252 shares during the period. Tidal Investments LLC lifted its stake in shares of SBA Communications by 105.4% in the first quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock worth $1,144,000 after acquiring an additional 2,709 shares during the period. iA Global Asset Management Inc. boosted its holdings in SBA Communications by 23.5% in the first quarter. iA Global Asset Management Inc. now owns 5,805 shares of the technology company’s stock valued at $1,258,000 after acquiring an additional 1,104 shares during the last quarter. Swedbank AB acquired a new stake in SBA Communications during the 1st quarter valued at approximately $17,143,000. Finally, Cetera Investment Advisers raised its holdings in SBA Communications by 228.1% during the 1st quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock worth $2,252,000 after purchasing an additional 7,226 shares during the last quarter. 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 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 23.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SBAC shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. BMO Capital Markets increased their price target on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. TD Cowen lifted their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group lifted their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Trading Up 0.8 %

SBAC opened at $228.51 on Friday. The company has a market cap of $24.57 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 0.77 and a beta of 0.68. The company’s fifty day moving average price is $233.05 and its two-hundred day moving average price is $218.00. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.34 EPS. As a group, equities analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

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 dividend of $0.98 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.72%. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

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.