Oppenheimer Asset Management Inc. reduced its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,631 shares of the technology company’s stock after selling 1,629 shares during the period. Oppenheimer Asset Management Inc.’s holdings in SBA Communications were worth $2,396,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Toronto Dominion Bank boosted 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 buying an additional 129 shares during the period. State Treasurer State of Michigan bought a new stake in shares of SBA Communications during the 3rd quarter worth $5,258,000. Oakbrook Investments LLC bought a new stake in shares of SBA Communications during the 3rd quarter worth $828,000. SG Americas Securities LLC boosted its holdings in shares of SBA Communications by 160.5% during the 2nd quarter. SG Americas Securities LLC now owns 12,629 shares of the technology company’s stock worth $1,704,000 after buying an additional 7,781 shares during the period. Finally, Delta Lloyd Asset Management N.V. bought a new stake in shares of SBA Communications during the 2nd quarter worth $3,475,000. 96.15% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on SBAC shares. Cowen reaffirmed a “buy” rating and set a $170.00 price objective (up from $155.00) on shares of SBA Communications in a report on Tuesday, December 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $200.00 price objective on shares of SBA Communications in a report on Thursday, November 30th. KeyCorp reaffirmed a “buy” rating and set a $179.00 price objective (up from $170.00) on shares of SBA Communications in a report on Wednesday, November 1st. UBS started coverage on shares of SBA Communications in a report on Wednesday, October 18th. They set a “buy” rating and a $176.00 price objective for the company. Finally, Zacks Investment Research raised shares of SBA Communications from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $159.40.
In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total value of $338,850.49. Following the completion of the sale, the director now directly owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.
Shares of SBA Communications Co. (NASDAQ:SBAC) opened at $165.19 on Monday. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. SBA Communications Co. has a 1-year low of $97.82 and a 1-year high of $173.97. The firm has a market cap of $19,416.76, a price-to-earnings ratio of 206.49 and a beta of 0.77.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $1.50. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The firm had revenue of $433.90 million during the quarter, compared to the consensus estimate of $431.42 million. During the same period in the prior year, the firm earned ($0.12) EPS. The business’s revenue was up 5.5% on a year-over-year basis. equities research analysts predict that SBA Communications Co. will post 0.96 earnings per share for the current year.
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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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