Holocene Advisors LP Has $5.06 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Holocene Advisors LP lessened its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,036 shares of the technology company’s stock after selling 2,142 shares during the quarter. Holocene Advisors LP’s holdings in SBA Communications were worth $5,063,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SBAC. Cetera Investment Advisers lifted its stake in shares of SBA Communications by 228.1% during the first quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock valued at $2,252,000 after acquiring an additional 7,226 shares during the period. Cetera Advisors LLC lifted its stake in SBA Communications by 41.8% in the first quarter. Cetera Advisors LLC now owns 1,670 shares of the technology company’s stock valued at $362,000 after buying an additional 492 shares during the period. GAMMA Investing LLC lifted its stake in SBA Communications by 31.8% in the second quarter. GAMMA Investing LLC now owns 792 shares of the technology company’s stock valued at $155,000 after buying an additional 191 shares during the period. CWM LLC lifted its stake in SBA Communications by 56.4% in the second quarter. CWM LLC now owns 2,952 shares of the technology company’s stock valued at $579,000 after buying an additional 1,065 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new position in SBA Communications in the second quarter valued at about $12,918,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the topic of several analyst reports. KeyCorp increased their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays increased their target price on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen raised their price target on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group raised their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Trading Down 1.0 %

Shares of SBAC stock opened at $220.81 on Thursday. The firm’s fifty day moving average price is $231.68 and its two-hundred day moving average price is $218.77. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The firm has a market capitalization of $23.74 billion, a P/E ratio of 34.83, a PEG ratio of 0.75 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.34 EPS. As a group, equities research analysts forecast that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is presently 61.83%.

Insider Activity

In other news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 23.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.