Stoneridge Investment Partners LLC Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

Stoneridge Investment Partners LLC bought a new stake in SBA Communications Co. (NASDAQ:SBAC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,458 shares of the technology company’s stock, valued at approximately $1,071,000.

A number of other large investors have also recently made changes to their positions in SBAC. SG Americas Securities LLC boosted its holdings in shares of SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after acquiring an additional 16,962 shares during the period. Franklin Resources Inc. increased its stake in SBA Communications by 2.8% in the fourth quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock valued at $179,547,000 after purchasing an additional 19,462 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of SBA Communications in the fourth quarter valued at about $7,422,000. Wellington Management Group LLP raised its stake in SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after acquiring an additional 192,791 shares during the last quarter. Finally, Clear Rock Advisors LLC acquired a new stake in SBA Communications during the 4th quarter worth approximately $1,900,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. BMO Capital Markets decreased their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Wells Fargo & Company lowered SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $230.00 to $220.00 in a report on Monday, July 15th. TD Cowen reduced their price target on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $237.92.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $242.95 on Friday. The firm’s 50 day moving average price is $220.11 and its 200 day moving average price is $208.09. The firm has a market cap of $26.11 billion, a P/E ratio of 47.64, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. 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 earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.24 earnings per share. As a group, equities analysts predict that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

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.