SBA Communications Corporation (SBAC) Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 523,795 shares of the technology company’s stock after purchasing an additional 13,950 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.43% of SBA Communications Corporation worth $70,659,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Tealwood Asset Management Inc. boosted its stake in SBA Communications Corporation by 0.3% in the 2nd quarter. Tealwood Asset Management Inc. now owns 12,115 shares of the technology company’s stock worth $1,634,000 after purchasing an additional 35 shares during the period. Cadence Capital Management LLC boosted its stake in SBA Communications Corporation by 0.8% in the 2nd quarter. Cadence Capital Management LLC now owns 4,860 shares of the technology company’s stock worth $656,000 after purchasing an additional 40 shares during the period. Global X Management Co. LLC boosted its stake in SBA Communications Corporation by 3.9% in the 1st quarter. Global X Management Co. LLC now owns 1,856 shares of the technology company’s stock worth $223,000 after purchasing an additional 69 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in SBA Communications Corporation by 1.5% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,790 shares of the technology company’s stock worth $577,000 after purchasing an additional 70 shares during the period. Finally, Fiduciary Financial Services of The Southwest Inc. TX boosted its stake in SBA Communications Corporation by 5.1% in the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 2,671 shares of the technology company’s stock worth $360,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 92.37% of the company’s stock.

Shares of SBA Communications Corporation (NASDAQ:SBAC) opened at 150.13 on Tuesday. The stock has a market cap of $18.07 billion, a price-to-earnings ratio of 515.91 and a beta of 0.71. The company’s 50-day moving average price is $143.43 and its 200 day moving average price is $131.34. SBA Communications Corporation has a 12-month low of $95.66 and a 12-month high of $154.71.

SBA Communications Corporation (NASDAQ:SBAC) last released its quarterly earnings data 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. The company had revenue of $427.30 million for the quarter, compared to analyst estimates of $426.10 million. SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $1.48 EPS. On average, equities analysts predict that SBA Communications Corporation will post $0.94 earnings per share for the current year.

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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 stock was sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the transaction, the senior vice president now owns 17,525 shares of the company’s stock, valued at $2,660,119.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 9,655 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $140.74, for a total value of $1,358,844.70. Following the transaction, the executive vice president now directly owns 21,403 shares in the company, valued at approximately $3,012,258.22. The disclosure for this sale can be found here. Insiders have sold 18,674 shares of company stock worth $2,706,217 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

Several research analysts have weighed in on SBAC shares. BidaskClub downgraded SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 9th. Citigroup Inc. downgraded SBA Communications Corporation to an “outperform” rating and set a $153.00 target price for the company. in a research report on Monday, June 12th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of SBA Communications Corporation in a research report on Monday, June 12th. Zacks Investment Research upgraded SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $155.00 target price for the company in a research report on Wednesday, July 5th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $150.00 target price (up from $133.00) on shares of SBA Communications Corporation in a research report on Friday, July 14th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. SBA Communications Corporation has a consensus rating of “Buy” and a consensus target price of $144.43.

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.

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

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