Neuberger Berman Group LLC Buys 6,027 Shares of SBA Communications Co. (NASDAQ:SBAC)

Neuberger Berman Group LLC lifted its stake in shares of SBA Communications Co. (NASDAQ:SBACGet Rating) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 549,274 shares of the technology company’s stock after purchasing an additional 6,027 shares during the quarter. Neuberger Berman Group LLC’s holdings in SBA Communications were worth $189,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBAC. International Assets Investment Management LLC bought a new position in shares of SBA Communications during the 4th quarter worth about $51,000. JPMorgan Chase & Co. boosted its position in shares of SBA Communications by 16.2% during the 4th quarter. JPMorgan Chase & Co. now owns 461,113 shares of the technology company’s stock worth $179,383,000 after purchasing an additional 64,162 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of SBA Communications by 43.1% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 10,373 shares of the technology company’s stock worth $4,035,000 after purchasing an additional 3,126 shares in the last quarter. MAI Capital Management boosted its position in shares of SBA Communications by 8.4% during the 4th quarter. MAI Capital Management now owns 695 shares of the technology company’s stock worth $270,000 after purchasing an additional 54 shares in the last quarter. Finally, Advisor Resource Council bought a new position in shares of SBA Communications during the 4th quarter worth about $219,000. Institutional investors own 94.45% of the company’s stock.

Insider Transactions at SBA Communications

In other news, Director Duncan Cocroft sold 1,152 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $344.50, for a total transaction of $396,864.00. Following the completion of the sale, the director now owns 64,592 shares in the company, valued at approximately $22,251,944. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Duncan Cocroft sold 1,152 shares of SBA Communications stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $344.50, for a total value of $396,864.00. Following the completion of the transaction, the director now directly owns 64,592 shares in the company, valued at approximately $22,251,944. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason V. Silberstein sold 16,464 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $350.38, for a total transaction of $5,768,656.32. Following the completion of the transaction, the executive vice president now owns 21,785 shares of the company’s stock, valued at $7,633,028.30. The disclosure for this sale can be found here. Insiders sold a total of 54,152 shares of company stock worth $18,852,602 in the last quarter. Insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the topic of several recent research reports. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Sunday, August 28th. Morgan Stanley dropped their price target on shares of SBA Communications from $389.00 to $361.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. UBS Group raised their price target on shares of SBA Communications from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Jefferies Financial Group dropped their price target on shares of SBA Communications from $383.00 to $347.00 and set a “hold” rating on the stock in a research report on Thursday, June 30th. Finally, Barclays dropped their price target on shares of SBA Communications from $385.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, August 26th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $384.33.

SBA Communications Stock Down 2.8 %

Shares of SBAC stock opened at $307.50 on Friday. The company has a 50 day moving average of $331.05 and a 200-day moving average of $332.86. SBA Communications Co. has a 12-month low of $286.41 and a 12-month high of $391.15. The firm has a market cap of $33.16 billion, a P/E ratio of 95.20 and a beta of 0.44.

SBA Communications (NASDAQ:SBACGet Rating) last issued its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). SBA Communications had a negative return on equity of 6.73% and a net margin of 14.45%. The company had revenue of $652.01 million for the quarter, compared to analysts’ expectations of $626.30 million. During the same quarter in the previous year, the business earned $2.64 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts expect that SBA Communications Co. will post 11.2 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Thursday, August 25th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.84 annualized dividend and a dividend yield of 0.92%. SBA Communications’s payout ratio is currently 87.93%.

SBA Communications Company Profile

(Get Rating)

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

Further Reading

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

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