Dorsey Wright & Associates increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,083 shares of the technology company’s stock after purchasing an additional 86 shares during the period. Dorsey Wright & Associates’ holdings in SBA Communications were worth $3,391,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Zeke Capital Advisors LLC lifted its holdings in SBA Communications by 0.6% during the 1st quarter. Zeke Capital Advisors LLC now owns 9,976 shares of the technology company’s stock worth $1,992,000 after purchasing an additional 56 shares during the last quarter. Parallel Advisors LLC lifted its holdings in SBA Communications by 27.0% during the 1st quarter. Parallel Advisors LLC now owns 268 shares of the technology company’s stock worth $53,000 after purchasing an additional 57 shares during the last quarter. CWM LLC lifted its holdings in SBA Communications by 31.4% during the 1st quarter. CWM LLC now owns 243 shares of the technology company’s stock worth $49,000 after purchasing an additional 58 shares during the last quarter. Suntrust Banks Inc. lifted its holdings in SBA Communications by 4.1% during the 4th quarter. Suntrust Banks Inc. now owns 1,493 shares of the technology company’s stock worth $242,000 after purchasing an additional 59 shares during the last quarter. Finally, ETF Managers Group LLC lifted its holdings in SBA Communications by 10.1% during the 1st quarter. ETF Managers Group LLC now owns 836 shares of the technology company’s stock worth $167,000 after purchasing an additional 77 shares during the last quarter. 94.23% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on SBAC shares. UBS Group restated a “buy” rating on shares of Fortis in a research note on Friday, June 7th. ValuEngine lowered Valero Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Moffett Nathanson restated a “neutral” rating and set a $246.00 price objective on shares of SBA Communications in a research note on Monday, July 8th. Raymond James restated an “average” rating and set a $16.00 price objective on shares of Aeroflex in a research note on Wednesday, May 1st. Finally, New Street Research lowered CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 price objective on the stock. in a research note on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. SBA Communications presently has a consensus rating of “Hold” and an average price target of $214.25.
In related news, Director Brian C. Carr sold 700 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $206.50, for a total transaction of $144,550.00. Following the sale, the director now owns 2,590 shares in the company, valued at approximately $534,835. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George R. Krouse, Jr. sold 1,899 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $204.16, for a total value of $387,699.84. Following the sale, the director now owns 10,481 shares in the company, valued at approximately $2,139,800.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,978 shares of company stock worth $14,787,645. Corporate insiders own 2.50% of the company’s stock.
Shares of SBAC traded up $2.87 during midday trading on Tuesday, hitting $233.17. The company’s stock had a trading volume of 393,600 shares, compared to its average volume of 649,445. SBA Communications Co. has a one year low of $146.13 and a one year high of $236.90. The company’s fifty day moving average price is $228.34. The company has a market cap of $25.87 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 2.95 and a beta of 0.67.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($1.66). SBA Communications had a net margin of 2.20% and a negative return on equity of 1.44%. The business had revenue of $493.29 million during the quarter, compared to the consensus estimate of $481.06 million. During the same quarter in the previous year, the business posted $1.85 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts anticipate that SBA Communications Co. will post 7.75 earnings per share for the current fiscal year.
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.
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