Exxonmobil Investment Management Inc. TX cut its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 15.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,690 shares of the technology company’s stock after selling 3,289 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in SBA Communications were worth $3,053,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its position 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. Sun Life Financial INC bought a new stake in SBA Communications in the third quarter valued at $127,000. Advisor Group Inc. grew its position 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. Toronto Dominion Bank grew its position 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. Finally, Capital Innovations LLC bought a new stake in SBA Communications in the second quarter valued at $204,000. Institutional investors and hedge funds own 96.00% of the company’s stock.
Shares of SBA Communications Co. (NASDAQ SBAC) opened at $155.94 on Friday. The company has a debt-to-equity ratio of -3.63, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $18,510.00, a price-to-earnings ratio of 185.64 and a beta of 0.77. SBA Communications Co. has a 1-year low of $102.29 and a 1-year high of $173.97.
SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $0.25 by $1.50. The company had revenue of $433.90 million for the quarter, compared to analysts’ expectations of $431.42 million. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. research analysts expect that SBA Communications Co. will post 0.97 EPS for the current fiscal year.
In other news, Director George R. Krouse, Jr. sold 1,999 shares of the 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 owns 11,999 shares in the company, valued at $2,033,950.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.
SBAC has been the topic of a number of analyst reports. Morgan Stanley upped their price target on SBA Communications from $169.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. UBS Group initiated coverage on SBA Communications in a research report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price target on the stock. KeyCorp reiterated a “buy” rating and issued a $179.00 price target (up from $170.00) on shares of SBA Communications in a research report on Wednesday, November 1st. BidaskClub cut SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Finally, Cowen reiterated a “buy” rating and issued a $170.00 price target (up from $155.00) on shares of SBA Communications in a research report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target 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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