Hahn Capital Management LLC Acquires 3,412 Shares of SBA Communications Co. (NASDAQ:SBAC)

Hahn Capital Management LLC increased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 21.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,072 shares of the technology company’s stock after buying an additional 3,412 shares during the period. SBA Communications accounts for 1.8% of Hahn Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. Hahn Capital Management LLC’s holdings in SBA Communications were worth $3,744,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of SBAC. SG Americas Securities LLC increased its position in shares of SBA Communications by 191.3% during the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after buying an additional 16,962 shares during the period. Franklin Resources Inc. lifted its stake in SBA Communications by 2.8% in the 4th quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock worth $179,547,000 after purchasing an additional 19,462 shares in the last quarter. Nomura Holdings Inc. bought a new position in SBA Communications in the 4th quarter valued at $7,422,000. Wellington Management Group LLP grew its position in shares of SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after purchasing an additional 192,791 shares in the last quarter. Finally, Clear Rock Advisors LLC bought a new position in shares of SBA Communications in the fourth quarter worth $1,900,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Up 2.2 %

NASDAQ SBAC opened at $238.51 on Friday. The firm has a market cap of $25.63 billion, a price-to-earnings ratio of 46.77, a PEG ratio of 0.72 and a beta of 0.67. The company has a 50-day simple moving average of $215.05 and a two-hundred day simple moving average of $206.97. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. During the same quarter in the previous year, the business earned $3.24 earnings per share. SBA Communications’s revenue was down 2.7% compared to the same quarter last year. Equities analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.64%. SBA Communications’s dividend payout ratio is currently 76.86%.

Insider Activity at SBA Communications

In other news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays dropped their price objective on SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. The Goldman Sachs Group began coverage on SBA Communications in a report on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective for the company. Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $230.00 to $220.00 in a research note on Monday, July 15th. BMO Capital Markets cut their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Finally, StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.92.

About SBA Communications

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.