SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Cwm LLC

Cwm LLC grew its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 54.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,622 shares of the technology company’s stock after purchasing an additional 573 shares during the quarter. Cwm LLC’s holdings in SBA Communications were worth $411,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Emerald Advisers LLC purchased a new position in SBA Communications during the third quarter worth approximately $31,000. CVA Family Office LLC acquired a new position in SBA Communications in the 4th quarter valued at about $37,000. Pinnacle Bancorp Inc. grew its stake 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 valued at $40,000 after buying an additional 67 shares during the period. Allworth Financial LP raised its position in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in SBA Communications in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $189.12 on Thursday. The business’s 50-day simple moving average is $209.12 and its 200 day simple moving average is $222.52. The company has a market cap of $20.45 billion, a P/E ratio of 37.08, a PEG ratio of 1.24 and a beta of 0.56. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.79% and a net margin of 20.61%. The company had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. During the same period in the prior year, the company posted $3.13 EPS. SBA Communications’s quarterly revenue was down 2.6% on a year-over-year basis. Analysts predict that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent analyst reports. KeyCorp decreased their price target on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research note on Tuesday. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. Citigroup dropped their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday. TD Cowen decreased their target price on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, BMO Capital Markets lowered their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $258.23.

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.