Ladenburg Thalmann Financial Services Inc. lessened its position in SBA Communications Co. (NASDAQ:SBAC) by 39.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,656 shares of the technology company’s stock after selling 1,095 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in SBA Communications were worth $238,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBAC. Schwab Charles Investment Management Inc. increased its holdings in shares of SBA Communications by 5.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 271,277 shares of the technology company’s stock worth $36,596,000 after acquiring an additional 14,077 shares during the period. Prudential Financial Inc. increased its holdings in shares of SBA Communications by 319.0% in the 2nd quarter. Prudential Financial Inc. now owns 33,600 shares of the technology company’s stock worth $4,533,000 after acquiring an additional 25,580 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of SBA Communications by 130.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 6,556 shares of the technology company’s stock worth $885,000 after acquiring an additional 3,712 shares during the period. Pacer Advisors Inc. increased its holdings in shares of SBA Communications by 8.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,836 shares of the technology company’s stock worth $383,000 after acquiring an additional 225 shares during the period. Finally, Chicago Equity Partners LLC acquired a new stake in shares of SBA Communications in the 2nd quarter worth about $295,000. 96.00% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director George R. Krouse, Jr. sold 1,999 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the completion of the transaction, the director now owns 11,999 shares in the company, valued at approximately $2,033,950.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

SBA Communications Co. (NASDAQ SBAC) opened at $163.36 on Friday. The stock has a market cap of $19,201.66, a PE ratio of 204.20 and a beta of 0.77. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32. SBA Communications Co. has a 12-month low of $102.06 and a 12-month high of $173.97.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. The firm had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. SBA Communications’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) EPS. equities analysts forecast that SBA Communications Co. will post 0.97 earnings per share for the current fiscal year.

A number of research firms recently weighed in on SBAC. UBS Group began coverage on shares of SBA Communications in a report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price objective on the stock. KeyCorp reaffirmed an “overweight” rating and issued a $192.00 price objective (up previously from $179.00) on shares of SBA Communications in a report on Monday, November 27th. Cowen reaffirmed a “buy” rating and issued a $147.00 price objective on shares of SBA Communications in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, BidaskClub lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $160.43.

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About SBA Communications

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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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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