Metis Global Partners LLC Sells 336 Shares of SBA Communications Co. (NASDAQ:SBAC)

Metis Global Partners LLC reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 6.4% during the 4th quarter, Holdings Channel reports. The firm owned 4,945 shares of the technology company’s stock after selling 336 shares during the period. Metis Global Partners LLC’s holdings in SBA Communications were worth $1,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Emerald Advisers LLC acquired a new stake in SBA Communications during the 3rd quarter worth $31,000. CVA Family Office LLC acquired a new stake in SBA Communications during the 4th quarter worth $37,000. Pinnacle Bancorp Inc. raised its stake in SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after buying an additional 67 shares during the period. Allworth Financial LP raised its stake in SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after buying an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in SBA Communications during the 4th quarter worth $43,000. 97.35% of the stock is currently owned by institutional investors.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction dated 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 transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $197.22 on Thursday. The stock’s 50-day simple moving average is $208.00 and its 200 day simple moving average is $222.65. The company has a market cap of $21.32 billion, a P/E ratio of 38.67, a P/E/G ratio of 0.57 and a beta of 0.59. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. The business had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. SBA Communications’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.13 earnings per share. As a group, equities analysts predict that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

Analyst Upgrades and Downgrades

Several analysts recently commented on SBAC shares. 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. Citigroup dropped their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. KeyCorp dropped their price objective on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Wells Fargo & Company dropped their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Finally, BMO Capital Markets dropped their price target 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. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $254.75.

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.