SBA Communications Corporation (SBAC) Position Raised by Blair William & Co. IL
Blair William & Co. IL boosted its position in SBA Communications Corporation (NASDAQ:SBAC) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,537 shares of the technology company’s stock after buying an additional 462 shares during the period. Blair William & Co. IL’s holdings in SBA Communications Corporation were worth $3,791,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triple Frond Partners LLC increased its stake in SBA Communications Corporation by 37.4% in the fourth quarter. Triple Frond Partners LLC now owns 824,676 shares of the technology company’s stock valued at $85,156,000 after buying an additional 224,676 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in SBA Communications Corporation by 1,611.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 210,426 shares of the technology company’s stock valued at $21,740,000 after buying an additional 198,130 shares during the last quarter. Ulysses Management LLC bought a new stake in SBA Communications Corporation during the fourth quarter valued at $1,549,000. SECOR Capital Advisors LP bought a new stake in SBA Communications Corporation during the third quarter valued at $2,052,000. Finally, Korea Investment CORP increased its stake in SBA Communications Corporation by 66,687.8% in the first quarter. Korea Investment CORP now owns 98,178 shares of the technology company’s stock valued at $11,818,000 after buying an additional 98,031 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.
Shares of SBA Communications Corporation (NASDAQ SBAC) traded up 0.63% during trading on Friday, reaching $133.05. The company had a trading volume of 964,691 shares. SBA Communications Corporation has a 1-year low of $95.66 and a 1-year high of $140.38. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 276.04 and a beta of 0.77. The company’s 50 day moving average is $132.66 and its 200-day moving average is $116.20.
SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, May 1st. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $1.48. SBA Communications Corporation had a net margin of 3.69% and a negative return on equity of 2.23%. The company had revenue of $423.40 million for the quarter, compared to the consensus estimate of $418.21 million. During the same period last year, the firm posted $1.45 EPS. SBA Communications Corporation’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts anticipate that SBA Communications Corporation will post $1.04 earnings per share for the current year.
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Several analysts recently weighed in on SBAC shares. BidaskClub downgraded SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 9th. Jefferies Group LLC upped their price target on SBA Communications Corporation from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Stifel Nicolaus set a $148.00 price objective on SBA Communications Corporation and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Guggenheim raised SBA Communications Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $118.00 to $137.00 in a research report on Monday, April 10th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $133.00 price objective (up from $121.00) on shares of SBA Communications Corporation in a research report on Saturday, April 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. SBA Communications Corporation presently has an average rating of “Buy” and a consensus target price of $135.29.
In other news, EVP Mark R. Ciarfella sold 15,147 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $129.03, for a total value of $1,954,417.41. Following the completion of the sale, the executive vice president now owns 14,677 shares in the company, valued at approximately $1,893,773.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Stoops sold 94,289 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $133.76, for a total transaction of $12,612,096.64. Following the completion of the sale, the chief executive officer now owns 329,124 shares of the company’s stock, valued at approximately $44,023,626.24. The disclosure for this sale can be found here. Insiders have sold a total of 171,028 shares of company stock worth $22,956,475 over the last three months. 2.10% of the stock is currently owned by insiders.
SBA Communications Corporation Company Profile
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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