EHP Funds Inc. Takes Position in SBA Communications Co. (NASDAQ:SBAC)

EHP Funds Inc. bought a new position in SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,500 shares of the technology company’s stock, valued at approximately $510,000. SBA Communications makes up about 0.5% of EHP Funds Inc.’s portfolio, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. NewEdge Advisors LLC grew its holdings in SBA Communications by 23.9% during the 4th quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company’s stock valued at $260,000 after buying an additional 246 shares in the last quarter. Oak Thistle LLC boosted its position in shares of SBA Communications by 76.1% during the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after acquiring an additional 2,863 shares during the last quarter. Czech National Bank grew its stake in SBA Communications by 6.5% during the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after acquiring an additional 1,421 shares in the last quarter. First Hawaiian Bank increased its holdings in SBA Communications by 91.0% in the 4th 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 last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in SBA Communications by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after purchasing an additional 38,725 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the transaction, the director now directly owns 10,522 shares of the company’s stock, valued at approximately $2,531,487.98. This trade represents a 32.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company’s stock, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $242.83 on Wednesday. SBA Communications Co. has a 1 year low of $185.44 and a 1 year high of $252.64. The firm has a 50-day simple moving average of $222.66 and a two-hundred day simple moving average of $216.37. The company has a market cap of $26.13 billion, a P/E ratio of 38.30, a PEG ratio of 0.74 and a beta of 0.83.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, May 22nd. SBA Communications’s payout ratio is currently 60.91%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SBAC shares. Wells Fargo & Company lifted their target price on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. JMP Securities lifted their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 29th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Citigroup lifted their price objective on shares of SBA Communications from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $252.38.

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.