Ameriprise Financial Inc. Has $154.15 Million Stake in SBA Communications Corporation (SBAC)

Ameriprise Financial Inc. lifted its position in SBA Communications Corporation (NASDAQ:SBAC) by 88.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,070,110 shares of the technology company’s stock after acquiring an additional 503,526 shares during the period. Ameriprise Financial Inc. owned about 0.90% of SBA Communications Corporation worth $154,151,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SBAC. Iridian Asset Management LLC CT increased its position in shares of SBA Communications Corporation by 88.1% in the second quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock worth $356,298,000 after acquiring an additional 1,237,008 shares in the last quarter. PointState Capital LP purchased a new position in shares of SBA Communications Corporation in the second quarter worth approximately $149,091,000. Victory Capital Management Inc. increased its position in shares of SBA Communications Corporation by 147,836.3% in the second quarter. Victory Capital Management Inc. now owns 687,904 shares of the technology company’s stock worth $92,799,000 after acquiring an additional 687,439 shares in the last quarter. American Century Companies Inc. increased its position in shares of SBA Communications Corporation by 41.4% in the second quarter. American Century Companies Inc. now owns 2,230,739 shares of the technology company’s stock worth $300,927,000 after acquiring an additional 652,647 shares in the last quarter. Finally, Voya Investment Management LLC increased its position in shares of SBA Communications Corporation by 1,343.6% in the second quarter. Voya Investment Management LLC now owns 657,010 shares of the technology company’s stock worth $88,631,000 after acquiring an additional 611,497 shares in the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Corporation (NASDAQ SBAC) opened at $169.72 on Friday. SBA Communications Corporation has a 1 year low of $95.76 and a 1 year high of $171.29. The company has a market cap of $19,627.16, a P/E ratio of 208.73 and a beta of 0.75. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.

SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The firm had revenue of $433.90 million for the quarter, compared to the consensus estimate of $431.42 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. equities analysts anticipate that SBA Communications Corporation will post 0.96 EPS for the current fiscal year.

Several research analysts have recently weighed in on the stock. UBS AG assumed coverage on shares of SBA Communications Corporation in a research report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 target price on the stock. BidaskClub raised shares of SBA Communications Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Cowen Inc reissued a “buy” rating and issued a $147.00 target price on shares of SBA Communications Corporation in a research report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 target price (up from $148.00) on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Finally, Jefferies Group LLC lifted their target price on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $152.33.

In related news, Director George R. Krouse, Jr. sold 1,999 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the transaction, the director now directly owns 11,999 shares of the company’s stock, valued at $2,033,950.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.10% of the company’s stock.

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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.

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

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