Sei Investments Co. Purchases 22,135 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sei Investments Co. grew its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 371,634 shares of the technology company’s stock after acquiring an additional 22,135 shares during the period. Sei Investments Co. owned about 0.35% of SBA Communications worth $72,952,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SBAC. Gilbert & Cook Inc. grew its position in shares of SBA Communications by 8.3% in the 4th quarter. Gilbert & Cook Inc. now owns 2,386 shares of the technology company’s stock worth $605,000 after buying an additional 183 shares during the last quarter. PNC Financial Services Group Inc. increased its position in SBA Communications by 0.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 18,060 shares of the technology company’s stock valued at $4,582,000 after purchasing an additional 76 shares during the period. Wells Fargo & Company MN raised its holdings in SBA Communications by 11.6% in the 4th quarter. Wells Fargo & Company MN now owns 207,064 shares of the technology company’s stock worth $52,530,000 after purchasing an additional 21,448 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of SBA Communications by 11.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,330 shares of the technology company’s stock worth $3,382,000 after purchasing an additional 1,391 shares during the period. Finally, Commerce Bank boosted its stake in shares of SBA Communications by 4.5% during the 4th quarter. Commerce Bank now owns 2,405 shares of the technology company’s stock valued at $610,000 after purchasing an additional 103 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Up 0.5 %

SBA Communications stock opened at $239.47 on Friday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The stock has a fifty day simple moving average of $224.12 and a two-hundred day simple moving average of $209.24. The firm has a market cap of $25.73 billion, a price-to-earnings ratio of 46.95, a PEG ratio of 0.75 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The business had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. SBA Communications’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $3.24 EPS. On average, equities research analysts forecast that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were paid 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 is presently 76.86%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SBAC shares. BMO Capital Markets decreased their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price target on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. TD Cowen decreased their price objective on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. KeyCorp boosted their target price on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company lowered shares of SBA Communications from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $230.00 to $220.00 in a research note on Monday, July 15th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Insider Buying and Selling at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of 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 Securities & Exchange Commission, which is accessible through 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 transaction, 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. In the last ninety days, insiders sold 51,590 shares of company stock worth $11,483,981. Insiders own 1.30% of the company’s stock.

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.