Pacer Advisors Inc. boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 8.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,836 shares of the technology company’s stock after purchasing an additional 225 shares during the period. Pacer Advisors Inc.’s holdings in SBA Communications Corporation were worth $383,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Xact Kapitalforvaltning AB purchased a new position in SBA Communications Corporation during the second quarter worth approximately $3,137,000. William Blair Investment Management LLC raised its stake in SBA Communications Corporation by 8.7% during the second quarter. William Blair Investment Management LLC now owns 2,682,091 shares of the technology company’s stock worth $361,814,000 after purchasing an additional 215,709 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of SBA Communications Corporation in the first quarter worth $2,250,000. York Capital Management Global Advisors LLC acquired a new stake in shares of SBA Communications Corporation in the first quarter worth $8,048,000. Finally, Schwab Charles Investment Management Inc. increased its position 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 worth $30,960,000 after acquiring an additional 19,369 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors.
Shares of SBA Communications Corporation (NASDAQ SBAC) opened at 149.45 on Monday. The company’s 50-day moving average is $143.23 and its 200-day moving average is $130.91. SBA Communications Corporation has a 12-month low of $95.66 and a 12-month high of $154.71. The firm has a market capitalization of $17.99 billion, a price-to-earnings ratio of 513.57 and a beta of 0.71.
SBA Communications Corporation (NASDAQ:SBAC) last announced its earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) 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 company had revenue of $427.30 million for the quarter, compared to the consensus estimate of $426.10 million. During the same period last year, the firm posted $1.48 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that SBA Communications Corporation will post $0.94 earnings per share for the current fiscal year.
In other SBA Communications Corporation news, SVP Brian D. Lazarus sold 7,376 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $151.79, for a total value of $1,119,603.04. Following the sale, the senior vice president now owns 17,525 shares of the company’s stock, valued at approximately $2,660,119.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director George R. Krouse, Jr. sold 1,643 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $138.63, for a total transaction of $227,769.09. Following the completion of the sale, the director now directly owns 11,643 shares in the company, valued at approximately $1,614,069.09. The disclosure for this sale can be found here. Insiders sold a total of 18,674 shares of company stock worth $2,706,217 in the last three months. Insiders own 2.40% of the company’s stock.
SBAC has been the subject of several recent research reports. 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 for the company in a research report on Thursday, July 20th. Citigroup Inc. increased their price objective on shares of SBA Communications Corporation from $140.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Deutsche Bank AG reissued a “hold” rating and issued a $150.00 price objective (up previously from $133.00) on shares of SBA Communications Corporation in a research report on Friday, July 14th. BidaskClub lowered shares of SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of SBA Communications Corporation in a research report on Monday, June 12th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. SBA Communications Corporation currently has a consensus rating of “Buy” and an average target price of $144.43.
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SBA Communications Corporation 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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