Argonautica Private Wealth Management Inc. Sells 118 Shares of SBA Communications Co. (NASDAQ:SBAC)

Argonautica Private Wealth Management Inc. lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,992 shares of the technology company’s stock after selling 118 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in SBA Communications were worth $505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. Emerald Advisers LLC bought a new position in SBA Communications during the 3rd quarter valued at approximately $31,000. CVA Family Office LLC bought a new position in SBA Communications during the 4th quarter valued at approximately $37,000. Pinnacle Bancorp Inc. raised its position in SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the last quarter. Allworth Financial LP raised its position in SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in SBA Communications during the 4th quarter valued at approximately $43,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBA Communications stock traded down $1.70 during midday trading on Friday, hitting $196.23. The company had a trading volume of 644,235 shares, compared to its average volume of 826,238. The stock has a market capitalization of $21.21 billion, a P/E ratio of 42.57, a P/E/G ratio of 1.22 and a beta of 0.56. The company has a 50 day moving average of $210.01 and a 200 day moving average of $222.51. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $263.08.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. During the same quarter in the previous year, the company earned $3.11 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.00%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now directly owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on SBAC shares. BMO Capital Markets lowered their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Barclays decreased their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Finally, Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, SBA Communications has a consensus rating of “Buy” and an average price target of $268.00.

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.