Circle Wealth Management LLC Sells 1,704 Shares of SBA Communications Co. (NASDAQ:SBAC)

Circle Wealth Management LLC decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 34.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,291 shares of the technology company’s stock after selling 1,704 shares during the quarter. Circle Wealth Management LLC’s holdings in SBA Communications were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in SBAC. Barclays PLC grew its holdings in shares of SBA Communications by 71.0% in the third quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after purchasing an additional 273,237 shares during the last quarter. Tidal Investments LLC raised its stake in SBA Communications by 8.8% in the 3rd quarter. Tidal Investments LLC now owns 2,868 shares of the technology company’s stock worth $690,000 after acquiring an additional 233 shares during the last quarter. JPMorgan Chase & Co. boosted its position in SBA Communications by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after buying an additional 605,872 shares during the last quarter. GAMMA Investing LLC boosted its holdings in SBA Communications by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 1,215 shares of the technology company’s stock valued at $248,000 after purchasing an additional 226 shares during the last quarter. Finally, First Hawaiian Bank lifted its holdings in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after acquiring an additional 5,897 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Down 1.0 %

Shares of SBAC opened at $240.31 on Thursday. The firm has a market capitalization of $25.86 billion, a price-to-earnings ratio of 37.90, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 12-month low of $185.44 and a 12-month high of $252.64. The stock’s 50-day moving average price is $223.11 and its 200 day moving average price is $216.53.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s dividend payout ratio is currently 60.91%.

Insider Activity at SBA Communications

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

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research reports. Barclays raised their target price on SBA Communications from $244.00 to $247.00 and gave the company an “overweight” rating in a research report on Tuesday, April 29th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, April 18th. BMO Capital Markets increased their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a “market perform” rating in a research note on Tuesday, April 29th. JMP Securities increased their price target on shares of SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 29th. Finally, Citigroup lifted their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $252.38.

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.