Marsico Capital Management LLC lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,098 shares of the technology company’s stock after selling 3,209 shares during the period. Marsico Capital Management LLC’s holdings in SBA Communications were worth $6,491,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in SBAC. Legacy Financial Advisors Inc. acquired a new position in shares of SBA Communications in the fourth quarter valued at approximately $25,000. Resources Investment Advisors Inc. acquired a new position in shares of SBA Communications in the fourth quarter valued at approximately $28,000. CWM LLC increased its holdings in shares of SBA Communications by 49.2% in the fourth quarter. CWM LLC now owns 185 shares of the technology company’s stock valued at $30,000 after purchasing an additional 61 shares during the period. We Are One Seven LLC acquired a new position in shares of SBA Communications in the fourth quarter valued at approximately $34,000. Finally, Private Capital Group LLC boosted its stake in shares of SBA Communications by 38.7% in the fourth quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock valued at $37,000 after buying an additional 63 shares in the last quarter. 93.66% of the stock is currently owned by institutional investors and hedge funds.
SBAC traded up $0.81 during trading on Friday, reaching $190.25. 6,981 shares of the stock were exchanged, compared to its average volume of 661,253. The company has a market cap of $21.37 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.39 and a beta of 0.82. SBA Communications Co. has a 1 year low of $146.13 and a 1 year high of $189.50.
SBA Communications (NASDAQ:SBAC) last posted its earnings results on Thursday, February 21st. The technology company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $1.83 by ($1.33). The firm had revenue of $483.85 million for the quarter, compared to analysts’ expectations of $472.87 million. SBA Communications had a negative return on equity of 1.71% and a net margin of 2.54%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. Equities analysts anticipate that SBA Communications Co. will post 7.82 EPS for the current fiscal year.
In other news, EVP Mark R. Ciarfella sold 14,602 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $183.16, for a total value of $2,674,502.32. Following the sale, the executive vice president now directly owns 22,488 shares in the company, valued at $4,118,902.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kurt L. Bagwell sold 7,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $185.27, for a total value of $1,296,890.00. Following the completion of the sale, the executive vice president now owns 61,668 shares in the company, valued at $11,425,230.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,188 shares of company stock worth $31,748,736. 2.70% of the stock is owned by company insiders.
A number of research firms recently weighed in on SBAC. KeyCorp lifted their price target on SBA Communications from $176.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Zacks Investment Research downgraded SBA Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Guggenheim downgraded SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 price target on the stock. in a research note on Friday, February 22nd. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 11th. Finally, ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $187.63.
About SBA Communications
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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