SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Sora Investors LLC

Sora Investors LLC decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 63.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,000 shares of the technology company’s stock after selling 35,000 shares during the quarter. Sora Investors LLC’s holdings in SBA Communications were worth $4,814,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Cetera Investment Advisers lifted its stake in SBA Communications by 228.1% in the first quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock valued at $2,252,000 after buying an additional 7,226 shares during the last quarter. Cetera Advisors LLC increased its stake in shares of 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 purchasing an additional 492 shares during the period. CWM LLC raised its holdings in shares of SBA Communications by 56.4% during 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 last quarter. Manning & Napier Advisors LLC bought a new stake in shares of SBA Communications during the second quarter valued at approximately $12,918,000. Finally, Gateway Investment Advisers LLC grew its holdings in SBA Communications by 2,022.0% in the 2nd quarter. Gateway Investment Advisers LLC now owns 89,614 shares of the technology company’s stock worth $17,591,000 after buying an additional 85,391 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Donald Day sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

SBAC stock opened at $221.58 on Friday. The company has a 50-day moving average of $231.39 and a two-hundred day moving average of $218.79. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

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

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.77%. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. 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 report on Wednesday, August 14th. TD Cowen raised their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their price target on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. upped their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.23.

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.