Quantinno Capital Management LP Has $6.92 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Quantinno Capital Management LP increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 31.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 28,766 shares of the technology company’s stock after acquiring an additional 6,882 shares during the period. Quantinno Capital Management LP’s holdings in SBA Communications were worth $6,924,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the third quarter worth $26,000. Ridgewood Investments LLC acquired a new stake in SBA Communications in the second quarter valued at $32,000. Capital Performance Advisors LLP acquired a new stake in SBA Communications in the third quarter valued at $35,000. Family Firm Inc. acquired a new stake in SBA Communications in the second quarter valued at $36,000. Finally, Global X Japan Co. Ltd. acquired a new stake in SBA Communications in the second quarter valued at $49,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $220.38 on Friday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The firm has a market cap of $23.70 billion, a price-to-earnings ratio of 34.76, a P/E/G ratio of 0.75 and a beta of 0.67. The firm’s 50-day simple moving average is $231.39 and its 200 day simple moving average is $218.79.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 EPS 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 firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same period in the prior year, the business earned $3.34 earnings per share. SBA Communications’s quarterly revenue was down 2.2% compared to the same quarter last year. Sell-side analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The company also recently announced 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. This represents a $3.92 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Raymond James increased their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. TD Cowen increased their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, KeyCorp increased their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

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.