American Century Companies Inc. cut its holdings in SBA Communications Co. (NASDAQ:SBAC) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,250,147 shares of the technology company’s stock after selling 181,750 shares during the period. American Century Companies Inc. owned 1.95% of SBA Communications worth $371,544,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its holdings in SBA Communications by 53.7% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 936 shares of the technology company’s stock valued at $160,000 after acquiring an additional 327 shares during the last quarter. Bray Capital Advisors acquired a new position in SBA Communications in the 1st quarter valued at $171,000. FNY Investment Advisers LLC acquired a new position in SBA Communications in the 2nd quarter valued at $165,000. Element Capital Management LLC acquired a new position in SBA Communications in the 1st quarter valued at $201,000. Finally, Dupont Capital Management Corp raised its holdings in SBA Communications by 71.6% in the 2nd quarter. Dupont Capital Management Corp now owns 1,227 shares of the technology company’s stock valued at $203,000 after acquiring an additional 512 shares during the last quarter. Institutional investors own 92.91% of the company’s stock.
SBAC stock opened at $157.82 on Friday. The company has a debt-to-equity ratio of -3.18, a current ratio of 1.18 and a quick ratio of 1.18. SBA Communications Co. has a 52 week low of $140.62 and a 52 week high of $177.67.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, July 30th. The technology company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.68). The firm had revenue of $456.30 million for the quarter, compared to analyst estimates of $457.43 million. SBA Communications had a negative return on equity of 1.26% and a net margin of 1.73%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.73 earnings per share. equities analysts expect that SBA Communications Co. will post 7.43 EPS for the current year.
In other news, Director Brian C. Carr sold 800 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $155.00, for a total transaction of $124,000.00. Following the completion of the sale, the director now directly owns 3,070 shares in the company, valued at approximately $475,850. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kurt L. Bagwell sold 126,605 shares of the company’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $165.06, for a total transaction of $20,897,421.30. Following the sale, the executive vice president now directly owns 42,089 shares of the company’s stock, valued at $6,947,210.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,412 shares of company stock valued at $36,508,275. Insiders own 2.70% of the company’s stock.
SBAC has been the subject of several analyst reports. BidaskClub downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Morgan Stanley cut their price target on SBA Communications from $182.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, May 31st. Zacks Investment Research downgraded SBA Communications from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 10th. Deutsche Bank boosted their price target on SBA Communications from $170.00 to $183.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. Finally, ValuEngine downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $181.40.
SBA Communications 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.
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