FDx Advisors Inc. Has $568,000 Holdings in SBA Communications Co. (SBAC)

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FDx Advisors Inc. lessened its holdings in SBA Communications Co. (NASDAQ:SBAC) by 72.5% during the second quarter, Holdings Channel reports. The institutional investor owned 3,441 shares of the technology company’s stock after selling 9,085 shares during the quarter. FDx Advisors Inc.’s holdings in SBA Communications were worth $568,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of SBA Communications by 3.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 343,307 shares of the technology company’s stock worth $56,687,000 after buying an additional 12,899 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in shares of SBA Communications by 39.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 5,501 shares of the technology company’s stock worth $908,000 after buying an additional 1,562 shares during the last quarter. Rivulet Capital LLC raised its holdings in shares of SBA Communications by 122.1% in the 1st quarter. Rivulet Capital LLC now owns 704,400 shares of the technology company’s stock worth $120,396,000 after purchasing an additional 387,300 shares during the period. Avalon Advisors LLC raised its holdings in shares of SBA Communications by 10.4% in the 1st quarter. Avalon Advisors LLC now owns 9,595 shares of the technology company’s stock worth $1,640,000 after purchasing an additional 906 shares during the period. Finally, Carillon Tower Advisers Inc. raised its holdings in shares of SBA Communications by 14.5% in the 1st quarter. Carillon Tower Advisers Inc. now owns 300,064 shares of the technology company’s stock worth $50,746,000 after purchasing an additional 38,054 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

NASDAQ:SBAC opened at $157.53 on Thursday. 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 12 month low of $140.62 and a 12 month high of $177.67.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 30th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.68). SBA Communications had a net margin of 1.73% and a negative return on equity of 1.26%. The business had revenue of $456.30 million for the quarter, compared to the consensus estimate of $457.43 million. During the same period in the previous year, the firm earned $1.73 EPS. The company’s revenue was up 6.8% compared to the same quarter last year. research analysts predict that SBA Communications Co. will post 7.07 earnings per share for the current fiscal year.

In other SBA Communications news, EVP Mark R. Ciarfella sold 10,617 shares of the business’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $160.12, for a total transaction of $1,699,994.04. Following the sale, the executive vice president now owns 20,341 shares of the company’s stock, valued at approximately $3,257,000.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Stoops sold 40,000 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $154.16, for a total transaction of $6,166,400.00. Following the sale, the chief executive officer now directly owns 268,756 shares in the company, valued at approximately $41,431,424.96. The disclosure for this sale can be found here. Insiders have sold a total of 262,412 shares of company stock worth $42,674,675 in the last three months. Insiders own 2.70% of the company’s stock.

SBAC has been the topic of a number of research reports. BidaskClub raised shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. ValuEngine cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research raised shares of SBA Communications from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Deutsche Bank lifted their price target on shares of SBA Communications from $170.00 to $183.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. Finally, Macquarie lowered their price target on shares of SBA Communications from $166.00 to $161.00 and set a “neutral” rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $179.55.

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.

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

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