Sei Investments Co. boosted its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 15.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 176,970 shares of the technology company’s stock after buying an additional 23,904 shares during the period. Sei Investments Co. owned approximately 0.15% of SBA Communications Corporation worth $25,492,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FDx Advisors Inc. purchased a new position in SBA Communications Corporation in the third quarter valued at approximately $373,000. Global X MANAGEMENT CO LLC raised its holdings in SBA Communications Corporation by 22.2% in the third quarter. Global X MANAGEMENT CO LLC now owns 2,654 shares of the technology company’s stock valued at $382,000 after buying an additional 482 shares during the period. Advantus Capital Management Inc purchased a new position in SBA Communications Corporation in the third quarter valued at approximately $1,749,000. Swiss National Bank raised its holdings in SBA Communications Corporation by 1.0% in the third quarter. Swiss National Bank now owns 446,451 shares of the technology company’s stock valued at $64,311,000 after buying an additional 4,400 shares during the period. Finally, World Asset Management Inc raised its holdings in SBA Communications Corporation by 109.6% in the third quarter. World Asset Management Inc now owns 11,498 shares of the technology company’s stock valued at $1,656,000 after buying an additional 6,012 shares during the period. Hedge funds and other institutional investors own 95.41% of the company’s stock.
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SBA Communications Corporation (SBAC) traded down $0.56 during mid-day trading on Monday, hitting $168.95. 698,700 shares of the stock were exchanged, compared to its average volume of 1,210,469. SBA Communications Corporation has a twelve month low of $95.66 and a twelve month high of $170.82. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market capitalization of $19,860.00, a P/E ratio of 211.19 and a beta of 0.75.
SBA Communications Corporation (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $1.50. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The business had revenue of $433.90 million during the quarter, compared to the consensus estimate of $431.42 million. During the same quarter last year, the company earned ($0.12) earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. research analysts forecast that SBA Communications Corporation will post 0.98 EPS for the current fiscal year.
In other news, SVP Brian D. Lazarus sold 7,376 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the completion of the sale, the senior vice president now owns 17,525 shares of the company’s stock, valued at $2,660,119.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.
SBAC has been the topic of several research reports. Citigroup Inc. raised their price target on shares of SBA Communications Corporation from $140.00 to $168.00 and gave the company a “neutral” rating in a report on Monday, August 28th. Zacks Investment Research upgraded shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price target on the stock in a report on Thursday, July 20th. Morgan Stanley restated an “overweight” rating and issued a $159.00 price target (up previously from $147.00) on shares of SBA Communications Corporation in a report on Thursday, August 24th. UBS AG initiated coverage on shares of SBA Communications Corporation in a research report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price objective for the company. Finally, KeyCorp raised shares of SBA Communications Corporation from a “sector weight” rating to an “overweight” rating and set a $170.00 price objective for the company in a research report on Wednesday, September 27th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $150.27.
SBA Communications Corporation 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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