Worldquant Millennium Advisors LLC Lowers Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Worldquant Millennium Advisors LLC trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 62.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 89,360 shares of the technology company’s stock after selling 146,597 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.08% of SBA Communications worth $18,212,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SBAC. Barclays PLC lifted its holdings 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 valued at $158,386,000 after purchasing an additional 273,237 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SBA Communications by 16.6% during 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 purchasing an additional 605,872 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of SBA Communications by 29.1% during the fourth quarter. Park Avenue Securities LLC now owns 4,630 shares of the technology company’s stock valued at $944,000 after purchasing an additional 1,045 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of SBA Communications during the fourth quarter valued at approximately $525,000. Finally, Aaron Wealth Advisors LLC increased its position in shares of SBA Communications by 50.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,631 shares of the technology company’s stock valued at $332,000 after acquiring an additional 547 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SBAC shares. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Raymond James reissued a “strong-buy” rating and set a $268.00 price target (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Citigroup raised 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. Bank of America started coverage on shares of SBA Communications in a research report on Monday. They set a “buy” rating and a $260.00 price target for the company. Finally, JMP Securities raised their price target on shares of SBA Communications from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 29th. Seven 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 company currently has an average rating of “Moderate Buy” and an average target price of $253.43.

Insiders Place Their Bets

In other news, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 owns 6,079 shares in the company, valued at $1,362,790.22. This trade represents a 26.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the transaction, the director now owns 10,522 shares in the company, 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 insiders.

SBA Communications Trading Down 0.7%

NASDAQ:SBAC opened at $233.78 on Wednesday. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The company has a market cap of $25.12 billion, a PE ratio of 36.87, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The company has a 50 day simple moving average of $225.23 and a two-hundred day simple moving average of $216.03.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 60.91%.

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.