MAI Capital Management bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, Holdings Channel reports. The fund bought 1,251 shares of the technology company’s stock, valued at approximately $204,000.
Other large investors have also bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of SBA Communications during the fourth quarter worth about $108,000. D.A. Davidson & CO. increased its position in shares of SBA Communications by 18.8% during the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after acquiring an additional 120 shares in the last quarter. Sun Life Financial INC bought a new stake in shares of SBA Communications during the third quarter worth about $127,000. Advisor Group Inc. increased its position in shares of SBA Communications by 9.7% during the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after acquiring an additional 114 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in shares of SBA Communications by 9.5% during the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after acquiring an additional 129 shares in the last quarter. 95.98% of the stock is owned by institutional investors.
In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the business’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total value of $338,850.49. Following the transaction, the director now directly owns 11,999 shares in the company, valued at $2,033,950.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.
SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. The firm had revenue of $433.90 million for the quarter, compared to analysts’ expectations of $431.42 million. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.12) earnings per share. equities research analysts anticipate that SBA Communications Co. will post 0.97 EPS for the current year.
Several research firms have recently commented on SBAC. BidaskClub raised shares of SBA Communications from a “sell” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada restated a “buy” rating and set a $200.00 price target on shares of SBA Communications in a report on Thursday, November 30th. KeyCorp restated an “overweight” rating and set a $192.00 price target (up from $179.00) on shares of SBA Communications in a report on Monday, November 27th. Zacks Investment Research cut shares of SBA Communications from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Morgan Stanley boosted their price target on shares of SBA Communications from $169.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. SBA Communications presently has an average rating of “Buy” and an average target price of $165.07.
About SBA Communications
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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