Jane Street Group LLC Cuts Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Jane Street Group LLC reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 33.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,051 shares of the technology company’s stock after selling 7,588 shares during the quarter. Jane Street Group LLC’s holdings in SBA Communications were worth $3,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Barclays PLC raised its stake in shares of SBA Communications by 71.0% during the third quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after acquiring an additional 273,237 shares in the last quarter. JPMorgan Chase & Co. raised its position in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares during the period. Harbor Capital Advisors Inc. raised its position in SBA Communications by 2.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 2,856 shares of the technology company’s stock worth $582,000 after purchasing an additional 79 shares during the period. Czech National Bank lifted its stake in SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after purchasing an additional 1,421 shares during the last quarter. Finally, Eastern Bank grew its stake in shares of SBA Communications by 100.4% during the fourth quarter. Eastern Bank now owns 485 shares of the technology company’s stock valued at $99,000 after buying an additional 243 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBAC has been the subject of a number of recent analyst reports. Raymond James reiterated a “strong-buy” rating and set a $268.00 price target (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. Barclays upped their price objective on shares of SBA Communications from $244.00 to $247.00 and gave the company an “overweight” rating in a research note on Tuesday, April 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of SBA Communications in a research note on Monday, February 24th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company increased their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $252.38.

Insider Activity at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the sale, the director now directly owns 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joshua Koenig sold 2,209 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.

SBA Communications Trading Down 1.7%

SBAC opened at $225.82 on Wednesday. The company has a market cap of $24.30 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The stock has a fifty day simple moving average of $224.15 and a two-hundred day simple moving average of $216.06. SBA Communications Co. has a 12-month low of $185.44 and a 12-month high of $252.64.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 annualized dividend and a dividend yield of 1.97%. SBA Communications’s payout ratio is 60.91%.

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.