Stevens Capital Management LP Sells 1,242 Shares of SBA Communications Co. (NASDAQ:SBAC)

Stevens Capital Management LP reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 22.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,174 shares of the technology company’s stock after selling 1,242 shares during the quarter. Stevens Capital Management LP’s holdings in SBA Communications were worth $1,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Nordea Investment Management AB boosted its holdings in SBA Communications by 6.3% in the fourth quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock worth $68,854,000 after acquiring an additional 16,244 shares in the last quarter. Legacy Trust purchased a new position in shares of SBA Communications in the 4th quarter worth about $3,256,000. Natixis Advisors L.P. boosted its stake in SBA Communications by 18.8% in the 3rd quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company’s stock worth $7,348,000 after purchasing an additional 5,814 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in SBA Communications during the 4th quarter valued at about $2,122,000. Finally, Wakefield Asset Management LLLP increased its stake in SBA Communications by 11.0% during the 4th quarter. Wakefield Asset Management LLLP now owns 13,964 shares of the technology company’s stock valued at $3,543,000 after purchasing an additional 1,389 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Barclays cut their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Finally, Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $268.00.

SBA Communications Price Performance

Shares of NASDAQ:SBAC traded down $1.70 during trading on Friday, hitting $196.23. The company’s stock had a trading volume of 644,231 shares, compared to its average volume of 983,892. The company has a 50-day moving average of $210.22 and a 200-day moving average of $222.50. The firm has a market cap of $21.21 billion, a price-to-earnings ratio of 42.94, a P/E/G ratio of 1.22 and a beta of 0.56. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $263.08.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. During the same quarter in the previous year, the business posted $3.11 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts anticipate that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.98 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s payout ratio is presently 85.03%.

Insider Transactions at SBA Communications

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

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.