Bamco Inc. NY lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,422,117 shares of the technology company’s stock after selling 16,978 shares during the period. SBA Communications comprises about 1.0% of Bamco Inc. NY’s holdings, making the stock its 23rd largest holding. Bamco Inc. NY owned approximately 1.21% of SBA Communications worth $204,856,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Cadence Capital Management LLC increased its holdings in SBA Communications by 0.8% during the 2nd quarter. Cadence Capital Management LLC now owns 4,860 shares of the technology company’s stock valued at $656,000 after purchasing an additional 40 shares during the period. Advisor Group Inc. increased its holdings in SBA Communications by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after purchasing an additional 114 shares during the period. D.A. Davidson & CO. grew its holdings in shares of SBA Communications by 18.8% during the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after acquiring an additional 120 shares during the period. Toronto Dominion Bank grew its holdings in shares of SBA Communications by 9.5% during the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after acquiring an additional 129 shares during the period. Finally, Fiduciary Financial Services of The Southwest Inc. TX grew its holdings in shares of SBA Communications by 5.1% during 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 acquiring an additional 130 shares during the period. 96.00% of the stock is owned by hedge funds and other institutional investors.
Shares of SBA Communications Co. (NASDAQ SBAC) traded down $2.73 during midday trading on Tuesday, reaching $160.63. 931,554 shares of the company’s stock traded hands, compared to its average volume of 761,950. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63. The company has a market capitalization of $19,200.00, a P/E ratio of 191.23 and a beta of 0.77. SBA Communications Co. has a twelve month low of $102.06 and a twelve month high of $173.97.
SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $1.50. The business had revenue of $433.90 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted ($0.12) earnings per share. research analysts predict that SBA Communications Co. will post 0.97 earnings per share for the current fiscal year.
In related news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications 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 filing with the SEC, which is accessible through this link. Company insiders own 2.40% of the company’s stock.
A number of research firms have weighed in on SBAC. BidaskClub downgraded SBA Communications from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Cowen reissued a “buy” rating and issued a $147.00 price target on shares of SBA Communications in a research report on Tuesday, October 17th. KeyCorp reaffirmed an “overweight” rating and issued a $192.00 price objective (up from $179.00) on shares of SBA Communications in a research report on Monday, November 27th. Zacks Investment Research raised SBA Communications from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $200.00 price target on shares of SBA Communications in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $160.43.
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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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