Van ECK Associates Corp Increases Stake in SBA Communications Co. (NASDAQ:SBAC) | Panda Anku


Van ECK Associates Corp increased its stake in SBA Communications Co. (NASDAQ:SBAC – Get Rating) by 11.2% in the first quarter, the company said in its most recent SEC filing. The institutional investor owned 16,137 shares of the tech company after purchasing an additional 1,622 shares during the quarter. Van ECK Associates Corp’s holdings in SBA Communications were worth $5,553,000 at the end of the most recent quarter.

Several other hedge funds also recently changed their positions in the stock. GHP Investment Advisors Inc. acquired a new $25,000 stake in SBA Communications during the first quarter. Riverview Trust Co acquired a new $26,000 stake in SBA Communications during the first quarter. Curi Wealth Management LLC acquired a new $30,000 stake in SBA Communications during the fourth quarter. Benjamin F. Edwards & Company Inc. increased its stake in SBA Communications by 331.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 95 shares of the $37,000 technology company after purchasing an additional 73 shares during the period. Finally, Capital Analysts LLC acquired a new $40,000 stake in SBA Communications during the fourth quarter. 95.41% of the shares are currently owned by hedge funds and other institutional investors.

Course development by SBA Communications

NASDAQ:SBAC shares opened at $344.49 on Friday. SBA Communications Co. has a 1-year low of $286.41 and a 1-year high of $391.15. The company has a market cap of $37.15 billion, a P/E of 106.65 and a beta of 0.43. The stock’s 50-day moving average is $325.99 and its 200-day moving average is $330.60.

SBA Communications (NASDAQ:SBAC – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The tech company reported earnings per share (EPS) of $0.64 for the quarter, missing analyst consensus estimates of $0.90 ($0.26). SBA Communications had a net margin of 14.45% and a negative return on equity of 6.73%. The company had revenue of $652.01 million for the quarter, compared to analysts’ expectations of $626.30 million. In the same quarter last year, the company earned $2.64 per share. The company’s revenue for the quarter rose 13.3% year over year. Analysts expect SBA Communications Co. to post 11.2 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Registered investors will receive a dividend of $0.71 per share on Thursday, August 25. The ex-dividend date of this dividend is Wednesday August 24th. That equates to an annualized dividend of $2.84 and a dividend yield of 0.82%. SBA Communications’ payout ratio is currently 87.93%.

Changes in analyst ratings

SBAC has been the subject of several research analyst reports. Morgan Stanley lowered its price target on SBA Communications to $361.00 from $389.00 and gave the company an overweight rating in a research note on Wednesday, July 20. Goldman Sachs Group lowered its price target on SBA Communications to $381.00 from $424.00 and gave the company a “buy” rating in a research note on Tuesday, July 12. Raymond James raised his price target on SBA Communications to $410.00 from $385.00 and announced the stock on Tuesday, April 26. Cowen raised his price target on SBA Communications from 373 in a research note on Tuesday, April 26 $.00 to $382.00. Finally, Wells Fargo & Company lowered its price target on SBA Communications to $355.00 from $390.00 and ranked the company as “overweight” in a research note on Tuesday, July 19. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications has a consensus rating of Moderate Buy and a consensus price target of $384.67.

Insiders place their bets

Also on Tuesday, June 7, EVP Mark R. Ciarfella sold 1,000 shares of the company’s shares in a transaction. The shares were sold at an average price of $338.05 for a total transaction of $338,050.00. Following the sale, the Executive Vice President now owns 23,884 shares of the Company, valued at approximately $8,073,986.20. The sale was disclosed in a document filed with the SEC, which can be accessed at this link. In other news from SBA Communications, EVP Mark R. Ciarfella sold 8,213 shares of SBA Communications in one transaction on Monday, August 15. The stock sold at an average price of $355.50 for a total transaction of $2,919,721.50. Following the closing of the transaction, the Executive Vice President now owns 23,884 shares of the company valued at $8,490,762. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this link. Also on Tuesday, June 7, EVP Mark R. Ciarfella sold 1,000 shares of the company’s shares in a transaction. The stock sold at an average price of $338.05 for a total value of $338,050.00. Following the closing of the sale, the Executive Vice President now directly owns 23,884 shares of the Company, valued at $8,073,986.20. The disclosure for this sale can be found here. Over the past 90 days, insiders sold 85,152 shares of the company’s stock valued at $29,512,752. 1.80% of the shares are owned by company insiders.

About SBA communication

(received rating)

SBA Communications Corporation is a provider of choice and leading owner and operator of wireless communications infrastructure in the Americas and South Africa. By building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)



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