Exxonmobil Investment Management Inc. TX lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 15.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,690 shares of the technology company’s stock after selling 3,289 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in SBA Communications were worth $3,053,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of SBAC. PointState Capital LP bought a new stake in SBA Communications during the 2nd quarter valued at approximately $149,091,000. Voya Investment Management LLC increased its stake in SBA Communications by 1,343.6% in the 2nd quarter. Voya Investment Management LLC now owns 657,010 shares of the technology company’s stock worth $88,631,000 after acquiring an additional 611,497 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in SBA Communications by 279.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 686,142 shares of the technology company’s stock worth $92,560,000 after acquiring an additional 505,530 shares during the last quarter. Ameriprise Financial Inc. increased its stake in SBA Communications by 88.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,070,110 shares of the technology company’s stock worth $154,151,000 after acquiring an additional 503,526 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in SBA Communications by 79.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 938,873 shares of the technology company’s stock worth $134,971,000 after acquiring an additional 415,078 shares during the last quarter. 95.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SBA Communications Co. (NASDAQ:SBAC) traded down $4.94 during trading hours on Monday, reaching $168.27. The company had a trading volume of 1,335,969 shares, compared to its average volume of 1,008,665. SBA Communications Co. has a 12 month low of $103.51 and a 12 month high of $177.67. The firm has a market cap of $20,360.00, a price-to-earnings ratio of 200.32 and a beta of 0.85. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63.
A number of analysts have issued reports on the company. Barclays reaffirmed a “buy” rating and issued a $178.00 price objective on shares of SBA Communications in a research note on Friday, January 19th. UBS Group began coverage on SBA Communications in a report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 target price for the company. KeyCorp reiterated 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 reiterated 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 cut SBA Communications from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. SBA Communications currently has an average rating of “Buy” and a consensus price target of $165.07.
In related news, Director George R. Krouse, Jr. sold 1,999 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was 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 approximately $2,033,950.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company’s stock.
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SBA Communications 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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