Crescent Grove Advisors LLC Makes New $232,000 Investment in SBA Communications Co. (NASDAQ:SBAC)

Crescent Grove Advisors LLC acquired a new stake in SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 914 shares of the technology company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also bought and sold shares of SBAC. Carolinas Wealth Consulting LLC grew its holdings in SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after purchasing an additional 62 shares during the period. Emerald Advisers LLC purchased a new position in SBA Communications during the third quarter worth approximately $31,000. Resurgent Financial Advisors LLC purchased a new position in SBA Communications during the fourth quarter worth approximately $31,000. CVA Family Office LLC purchased a new position in SBA Communications during the fourth quarter worth approximately $37,000. Finally, Ancora Advisors LLC raised its position in SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after purchasing an additional 62 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Down 2.3 %

Shares of SBA Communications stock traded down $4.51 on Tuesday, hitting $195.35. The stock had a trading volume of 161,052 shares, compared to its average volume of 997,759. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $266.77. The stock has a market cap of $21.12 billion, a price-to-earnings ratio of 43.35, a P/E/G ratio of 1.23 and a beta of 0.56. The company’s 50 day moving average price is $213.01 and its 200 day moving average price is $222.72.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). The company had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.11 earnings per share. Analysts predict that SBA Communications Co. will post 12.6 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.98 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 2.01%. SBA Communications’s dividend payout ratio is currently 85.03%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on SBAC. Barclays reduced their target price on SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 5th. BMO Capital Markets dropped their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Finally, Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research note on Thursday, March 7th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Buy” and an average price target of $268.38.

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.