Dynamic Technology Lab Private Ltd Purchases 671 Shares of SBA Communications Co. (NASDAQ:SBAC)

Dynamic Technology Lab Private Ltd raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 27.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,089 shares of the technology company’s stock after acquiring an additional 671 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in SBA Communications were worth $784,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. CVA Family Office LLC bought a new position in SBA Communications during the fourth quarter valued at $37,000. Pinnacle Bancorp Inc. grew its holdings in shares of SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares during the last quarter. Allworth Financial LP grew its holdings in shares of SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of SBA Communications in the fourth quarter worth about $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of SBA Communications by 67.9% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 225 shares of the technology company’s stock worth $57,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $193.77 on Thursday. The stock has a market capitalization of $20.82 billion, a price-to-earnings ratio of 37.99, a PEG ratio of 0.63 and a beta of 0.59. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The firm’s 50 day simple moving average is $204.23 and its 200-day simple moving average is $221.96.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. The firm had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.13 EPS. Analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be issued a $0.98 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 2.02%. SBA Communications’s payout ratio is currently 76.86%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SBAC. KeyCorp cut their price target on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Barclays cut their price target on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. 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. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Thursday, March 7th. Finally, TD Cowen lowered their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $252.25.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

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.