Stifel Financial Corp increased its position in SBA Communications Corporation (NASDAQ:SBAC) by 124.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,399 shares of the technology company’s stock after buying an additional 11,296 shares during the period. Stifel Financial Corp’s holdings in SBA Communications Corporation were worth $2,747,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in SBAC. D.A. Davidson & CO. increased its holdings in SBA Communications Corporation by 18.8% in the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after buying an additional 120 shares during the last quarter. Creative Planning increased its holdings in SBA Communications Corporation by 40.7% in the second quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after buying an additional 253 shares during the last quarter. Van ECK Associates Corp increased its holdings in SBA Communications Corporation by 17.0% in the first quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock worth $146,000 after buying an additional 177 shares during the last quarter. Acadian Asset Management LLC acquired a new position in SBA Communications Corporation in the second quarter worth approximately $159,000. Finally, Advisor Group Inc. increased its holdings in SBA Communications Corporation by 9.7% in the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 92.35% of the company’s stock.
SBA Communications Corporation (NASDAQ:SBAC) opened at 152.22 on Friday. The company has a market capitalization of $18.32 billion, a PE ratio of 523.09 and a beta of 0.69. The company has a 50-day moving average price of $148.10 and a 200 day moving average price of $136.27. 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 earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The company had revenue of $427.30 million for the quarter, compared to the consensus estimate of $426.10 million. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 earnings per share. On average, equities research analysts forecast that SBA Communications Corporation will post $0.94 EPS for the current fiscal year.
In other news, EVP Mark R. Ciarfella sold 9,655 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the completion of the sale, the executive vice president now directly owns 21,403 shares in the company, valued at approximately $3,012,258.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Brian D. Lazarus sold 7,376 shares of the company’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 $2,660,119.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,674 shares of company stock valued at $2,706,217. Corporate insiders own 2.10% of the company’s stock.
A number of research firms recently commented on SBAC. BidaskClub upgraded SBA Communications Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Jefferies Group LLC upped their target price on SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “buy” rating on shares of SBA Communications Corporation in a research report on Wednesday, August 2nd. Zacks Investment Research cut SBA Communications Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $148.00 target price on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $147.36.
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.
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