Jump Financial LLC Decreases Holdings in SBA Communications Co. (NASDAQ:SBAC)

Jump Financial LLC trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 71.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,041 shares of the technology company’s stock after selling 48,191 shares during the period. Jump Financial LLC’s holdings in SBA Communications were worth $3,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SBAC. Norges Bank acquired a new stake in shares of SBA Communications during the fourth quarter worth about $310,556,000. Brown Advisory Inc. increased its position in SBA Communications by 43.0% in the 2nd quarter. Brown Advisory Inc. now owns 2,108,540 shares of the technology company’s stock valued at $488,675,000 after acquiring an additional 634,135 shares during the period. Millennium Management LLC increased its position in SBA Communications by 294.4% in the 4th quarter. Millennium Management LLC now owns 797,089 shares of the technology company’s stock valued at $223,432,000 after acquiring an additional 594,994 shares during the period. JPMorgan Chase & Co. increased its position in SBA Communications by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,537,428 shares of the technology company’s stock valued at $662,447,000 after acquiring an additional 348,105 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in SBA Communications by 29.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 992,547 shares of the technology company’s stock worth $198,678,000 after purchasing an additional 226,113 shares during the period. 92.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SBA Communications

In other news, Director Kevin L. Beebe sold 1,500 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $233.83, for a total transaction of $350,745.00. Following the transaction, the director now owns 13,313 shares of the company’s stock, valued at $3,112,978.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SBA Communications news, Director Kevin L. Beebe sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $233.83, for a total value of $350,745.00. Following the transaction, the director now owns 13,313 shares of the company’s stock, valued at $3,112,978.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Stoops sold 45,779 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $233.96, for a total transaction of $10,710,454.84. Following the completion of the transaction, the chief executive officer now directly owns 37,889 shares in the company, valued at approximately $8,864,510.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,089 shares of company stock valued at $42,590,345. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SBAC. Morgan Stanley reduced their target price on SBA Communications from $311.00 to $227.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. Wells Fargo & Company reduced their target price on SBA Communications from $270.00 to $245.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Citigroup reduced their target price on SBA Communications from $260.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. KeyCorp boosted their price target on SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a report on Wednesday, December 6th. Finally, Barclays boosted their price target on SBA Communications from $251.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $279.31.

Check Out Our Latest Report on SBA Communications

SBA Communications Price Performance

NASDAQ:SBAC opened at $223.10 on Wednesday. The firm has a 50-day moving average of $243.19 and a two-hundred day moving average of $225.03. The stock has a market cap of $24.07 billion, a P/E ratio of 49.14, a PEG ratio of 1.17 and a beta of 0.61. SBA Communications Co. has a 1-year low of $185.23 and a 1-year high of $309.52.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $3.40 annualized dividend and a dividend yield of 1.52%. SBA Communications’s payout ratio is 74.89%.

SBA Communications Company Profile

(Free Report)

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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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