Quantitative Systematic Strategies LLC lessened its position in SBA Communications Co. (NASDAQ:SBAC) by 73.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,921 shares of the technology company’s stock after selling 10,635 shares during the period. Quantitative Systematic Strategies LLC’s holdings in SBA Communications were worth $641,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. grew its stake in SBA Communications by 18.8% in the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock valued at $102,000 after acquiring an additional 120 shares during the period. Acadian Asset Management LLC acquired a new stake in SBA Communications in the fourth quarter valued at approximately $108,000. Sun Life Financial INC acquired a new stake in SBA Communications in the third quarter valued at approximately $127,000. Advisor Group Inc. grew its stake in SBA Communications by 9.7% in the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock valued at $172,000 after acquiring an additional 114 shares during the period. Finally, Toronto Dominion Bank grew its stake in SBA Communications by 9.5% in the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after acquiring an additional 129 shares during the period. 95.87% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the company. Barclays restated a “buy” rating and issued a $178.00 target price on shares of SBA Communications in a report on Friday, January 19th. UBS Group assumed coverage on SBA Communications in a report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 target price on the stock. KeyCorp restated an “overweight” rating and issued a $192.00 target price (up previously from $179.00) on shares of SBA Communications in a report on Monday, November 27th. Cowen restated a “buy” rating and issued a $147.00 target price on shares of SBA Communications in a report on Tuesday, October 17th. Finally, Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $165.07.
In related news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the sale, the director now directly owns 11,999 shares in the company, valued at $2,033,950.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.
Shares of SBA Communications Co. (NASDAQ SBAC) opened at $173.21 on Monday. The company has a market capitalization of $20,359.45, a price-to-earnings ratio of 216.51 and a beta of 0.85. SBA Communications Co. has a fifty-two week low of $103.51 and a fifty-two week high of $177.67. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.
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SBA Communications 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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