Apriem Advisors Sells 4,000 Shares of SBA Communications Co. (SBAC)
Apriem Advisors cut its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 44.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,000 shares of the technology company’s stock after selling 4,000 shares during the quarter. Apriem Advisors’ holdings in SBA Communications were worth $720,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Toronto Dominion Bank increased its position in shares of SBA Communications by 9.5% during the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after purchasing an additional 129 shares during the last quarter. State Treasurer State of Michigan bought a new position in shares of SBA Communications during the 3rd quarter valued at about $5,258,000. Oakbrook Investments LLC purchased a new stake in SBA Communications during the 3rd quarter valued at about $828,000. SG Americas Securities LLC boosted its holdings in SBA Communications by 160.5% during the 2nd quarter. SG Americas Securities LLC now owns 12,629 shares of the technology company’s stock valued at $1,704,000 after acquiring an additional 7,781 shares during the period. Finally, Delta Lloyd Asset Management N.V. purchased a new stake in SBA Communications during the 2nd quarter valued at about $3,475,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.
In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total value of $338,850.49. Following the completion of the sale, the director now owns 11,999 shares in the company, valued at approximately $2,033,950.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.10% of the company’s stock.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.25 by $1.50. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The business had revenue of $433.90 million during the quarter, compared to analysts’ expectations of $431.42 million. During the same quarter last year, the business posted ($0.12) EPS. The business’s revenue was up 5.5% on a year-over-year basis. sell-side analysts forecast that SBA Communications Co. will post 0.96 earnings per share for the current year.
SBAC has been the subject of several analyst reports. KeyCorp restated a “buy” rating and set a $179.00 target price (up from $170.00) on shares of SBA Communications in a report on Wednesday, November 1st. Royal Bank Of Canada restated a “buy” rating and set a $200.00 target price on shares of SBA Communications in a report on Thursday, November 30th. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. UBS initiated coverage on SBA Communications in a report on Wednesday, October 18th. They set a “buy” rating and a $176.00 target price for the company. Finally, Morgan Stanley restated an “overweight” rating and set a $159.00 target price (up from $147.00) on shares of SBA Communications in a report on Thursday, August 24th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $159.40.
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SBA Communications 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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