Mizuho Securities USA LLC Purchases 83,792 Shares of SBA Communications Co. (NASDAQ:SBAC)

Mizuho Securities USA LLC lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1,011.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,079 shares of the technology company’s stock after acquiring an additional 83,792 shares during the quarter. Mizuho Securities USA LLC owned approximately 0.09% of SBA Communications worth $22,163,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SBAC. Virtu Financial LLC bought a new position in SBA Communications in the first quarter valued at approximately $1,764,000. Tidal Investments LLC boosted its position in shares of SBA Communications by 105.4% in the 1st quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock worth $1,144,000 after purchasing an additional 2,709 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of SBA Communications by 7.8% during the first quarter. Lazard Asset Management LLC now owns 148,687 shares of the technology company’s stock worth $32,219,000 after purchasing an additional 10,753 shares during the period. AMF Tjanstepension AB bought a new stake in SBA Communications in the second quarter valued at about $8,197,000. Finally, Cetera Investment Advisers lifted its stake in SBA Communications by 228.1% in the first quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock valued at $2,252,000 after buying an additional 7,226 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 23.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $221.09 on Friday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The company has a market capitalization of $23.77 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 0.74 and a beta of 0.68. The company has a 50-day simple moving average of $236.35 and a 200 day simple moving average of $216.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same period in the previous year, the business earned $3.34 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.77%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SBAC shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. BMO Capital Markets lifted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group raised their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, KeyCorp upped their price target on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $257.23.

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.