GAMMA Investing LLC Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

GAMMA Investing LLC bought a new position in SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 668 shares of the technology company’s stock, valued at approximately $169,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Emerald Advisers LLC purchased a new position in SBA Communications in the third quarter worth about $31,000. CVA Family Office LLC purchased a new position in SBA Communications in the fourth quarter worth about $37,000. Pinnacle Bancorp Inc. boosted its position in 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 boosted its position in 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. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of SBA Communications in the fourth quarter worth about $43,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Trading Down 0.9 %

Shares of SBAC opened at $196.23 on Friday. The business’s 50 day moving average is $210.01 and its 200 day moving average is $222.51. The company has a market capitalization of $21.21 billion, a PE ratio of 42.57, a price-to-earnings-growth ratio of 1.22 and a beta of 0.56. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $263.08.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. During the same period in the previous year, the firm earned $3.11 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.98 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s payout ratio is 85.03%.

Analyst Ratings Changes

SBAC has been the topic of several recent research reports. BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Thursday, March 7th. Finally, Barclays decreased their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $268.00.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

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.