Sentry Investment Management LLC bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,349 shares of the technology company’s stock, valued at approximately $710,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in SBA Communications during the fourth quarter worth about $108,000. Sun Life Financial INC acquired a new position in SBA Communications during the third quarter worth about $127,000. MAI Capital Management acquired a new position in SBA Communications during the fourth quarter worth about $204,000. Alps Advisors Inc. acquired a new position in SBA Communications during the fourth quarter worth about $206,000. Finally, Advisor Group Inc. raised its position in SBA Communications by 9.7% during the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.
SBAC has been the subject of a number of research reports. KeyCorp restated a “buy” rating and set a $179.00 target price (up previously from $170.00) on shares of SBA Communications in a research 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 research report on Thursday, November 30th. UBS Group initiated coverage on shares of SBA Communications in a research report on Wednesday, October 18th. They set a “buy” rating and a $176.00 target price for the company. Zacks Investment Research cut shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. Finally, BidaskClub cut shares of SBA Communications from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $165.07.
Shares of SBA Communications Co. (NASDAQ SBAC) opened at $162.56 on Thursday. The company has a market cap of $18,973.63, a PE ratio of 201.77 and a beta of 0.85. SBA Communications Co. has a twelve month low of $107.30 and a twelve month high of $177.67. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.
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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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