Frontier Capital Management Co. LLC raised its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 20.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 743,630 shares of the technology company’s stock after buying an additional 128,659 shares during the period. Frontier Capital Management Co. LLC owned about 0.61% of SBA Communications Corporation worth $100,316,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new stake in SBA Communications Corporation during the second quarter worth $3,137,000. Korea Investment CORP boosted its stake in shares of SBA Communications Corporation by 66,687.8% in the first quarter. Korea Investment CORP now owns 98,178 shares of the technology company’s stock valued at $11,818,000 after buying an additional 98,031 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of SBA Communications Corporation during the first quarter valued at $2,250,000. York Capital Management Global Advisors LLC purchased a new stake in shares of SBA Communications Corporation during the first quarter valued at $8,048,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of SBA Communications Corporation by 8.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 257,200 shares of the technology company’s stock valued at $30,960,000 after buying an additional 19,369 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of SBA Communications Corporation (NASDAQ SBAC) traded up 0.1817% during trading on Friday, reaching $142.4684. 10,558 shares of the company traded hands. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 489.5821 and a beta of 0.73. The company has a 50 day moving average price of $137.26 and a 200 day moving average price of $126.30. SBA Communications Corporation has a 12-month low of $95.66 and a 12-month high of $144.81.
SBA Communications Corporation (NASDAQ:SBAC) last posted its earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The business had revenue of $427.30 million for the quarter, compared to the consensus estimate of $426.10 million. During the same period in the previous year, the firm earned $1.48 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts predict that SBA Communications Corporation will post $0.92 EPS for the current year.
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SBAC has been the topic of several research analyst reports. Deutsche Bank AG reaffirmed a “hold” rating and set a $133.00 price objective (up from $121.00) on shares of SBA Communications Corporation in a research note on Saturday, April 22nd. Zacks Investment Research raised shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price objective on the stock in a research note on Thursday, July 20th. Barclays PLC upped their price objective on shares of SBA Communications Corporation from $136.00 to $137.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 3rd. Cowen and Company upped their price objective on shares of SBA Communications Corporation from $131.00 to $141.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 2nd. Finally, Citigroup Inc. cut shares of SBA Communications Corporation to an “outperform” rating and set a $153.00 price objective on the stock. in a research note on Monday, June 12th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $141.57.
In other SBA Communications Corporation news, EVP Jason V. Silberstein sold 48,930 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $136.32, for a total transaction of $6,670,137.60. Following the sale, the executive vice president now directly owns 24,231 shares of the company’s stock, valued at approximately $3,303,169.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George R. Krouse, Jr. sold 1,643 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $138.63, for a total transaction of $227,769.09. Following the sale, the director now directly owns 11,643 shares in the company, valued at $1,614,069.09. The disclosure for this sale can be found here. Insiders have sold a total of 69,415 shares of company stock worth $9,515,998 over the last three months. Insiders own 2.10% of the company’s stock.
SBA Communications Corporation Company Profile
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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