SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in SBA Communications Co. (NASDAQ:SBAC) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,449 shares of the technology company’s stock after acquiring an additional 310 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in SBA Communications were worth $4,406,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SBAC. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the 2nd quarter worth $32,000. Family Firm Inc. bought a new position in shares of SBA Communications during the 2nd quarter valued at about $36,000. Quarry LP grew its stake in shares of SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications in the 2nd quarter worth approximately $49,000. Finally, Versant Capital Management Inc lifted its stake in SBA Communications by 4,500.0% during the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after purchasing an additional 270 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Trading Up 0.5 %

Shares of NASDAQ SBAC opened at $239.47 on Monday. The firm has a market capitalization of $25.73 billion, a P/E ratio of 46.95, a P/E/G ratio of 0.75 and a beta of 0.67. The firm’s 50-day moving average price is $224.12 and its 200-day moving average price is $209.19. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same quarter in the previous year, the company posted $3.24 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Equities research analysts forecast that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.64%. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

Insiders Place Their Bets

In related news, EVP Donald Day sold 1,500 shares of the business’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 transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,590 shares of company stock valued at $11,483,981. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of recent research reports. Wells Fargo & Company downgraded SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $230.00 to $220.00 in a research report on Monday, July 15th. TD Cowen decreased their price target on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Barclays dropped their price target on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective for the company. Finally, BMO Capital Markets dropped their target price on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

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.