SBA Communications (SBAC) Stake Lowered by Personal Capital Advisors Corp

Personal Capital Advisors Corp decreased its position in shares of SBA Communications (NASDAQ:SBAC) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,927 shares of the technology company’s stock after selling 2,392 shares during the period. Personal Capital Advisors Corp owned 0.11% of SBA Communications worth $22,207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. Renaissance Technologies LLC boosted its position in SBA Communications by 156.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,224,149 shares of the technology company’s stock valued at $199,977,000 after purchasing an additional 745,900 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in SBA Communications by 26.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,582,045 shares of the technology company’s stock valued at $421,803,000 after purchasing an additional 545,374 shares during the last quarter. Two Sigma Advisers LP boosted its position in SBA Communications by 289.8% during the fourth quarter. Two Sigma Advisers LP now owns 513,833 shares of the technology company’s stock valued at $83,940,000 after purchasing an additional 382,026 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in SBA Communications during the fourth quarter valued at $54,628,000. Finally, Rivulet Capital LLC acquired a new stake in SBA Communications during the fourth quarter valued at $51,801,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

NASDAQ SBAC opened at $157.29 on Wednesday. SBA Communications has a fifty-two week low of $129.40 and a fifty-two week high of $177.67. The company has a debt-to-equity ratio of -3.62, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $18.40 billion, a price-to-earnings ratio of 168.18, a P/E/G ratio of 17.37 and a beta of 0.86.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, April 30th. The technology company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.07. SBA Communications had a negative return on equity of 4.79% and a net margin of 5.54%. The company had revenue of $458.30 million for the quarter, compared to analyst estimates of $453.50 million. During the same period last year, the company earned $1.69 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. analysts anticipate that SBA Communications will post 0.92 earnings per share for the current fiscal year.

SBA Communications declared that its board has approved a share repurchase program on Monday, February 26th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the technology company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

A number of research firms recently issued reports on SBAC. Zacks Investment Research cut SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. BidaskClub raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, March 16th. ValuEngine raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. KeyCorp set a $188.00 target price on SBA Communications and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Citigroup raised their target price on SBA Communications from $168.00 to $183.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. One investment 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 has an average rating of “Buy” and an average target price of $175.69.

In other news, Director George R. Krouse, Jr. sold 2,202 shares of SBA Communications stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $157.56, for a total value of $346,947.12. Following the transaction, the director now directly owns 12,733 shares in the company, valued at $2,006,211.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jason V. Silberstein sold 3,170 shares of SBA Communications stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $157.75, for a total value of $500,067.50. Following the completion of the transaction, the executive vice president now owns 15,828 shares in the company, valued at $2,496,867. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By ?Building Better Wireless,? SBA generates revenue from two primary businesses ? site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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

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