LPL Financial LLC raised its stake in SBA Communications (NASDAQ:SBAC) by 16.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,334 shares of the technology company’s stock after purchasing an additional 1,188 shares during the quarter. LPL Financial LLC’s holdings in SBA Communications were worth $1,361,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of SBA Communications in the fourth quarter worth approximately $108,000. Tower Research Capital LLC TRC raised its stake in shares of SBA Communications by 168.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 809 shares of the technology company’s stock worth $132,000 after purchasing an additional 508 shares during the last quarter. MAI Capital Management purchased a new stake in shares of SBA Communications in the fourth quarter worth approximately $204,000. Alps Advisors Inc. purchased a new stake in shares of SBA Communications in the fourth quarter worth approximately $206,000. Finally, D.A. Davidson & CO. purchased a new stake in shares of SBA Communications in the fourth quarter worth approximately $206,000. 92.87% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Duncan Cocroft acquired 500 shares of SBA Communications stock in a transaction on Monday, March 12th. The stock was acquired at an average cost of $167.29 per share, with a total value of $83,645.00. Following the completion of the acquisition, the director now owns 87,966 shares in the company, valued at $14,715,832.14. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.
Several equities analysts have recently issued reports on SBAC shares. BidaskClub lowered SBA Communications from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Guggenheim set a $172.00 target price on SBA Communications and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays reaffirmed a “buy” rating and issued a $178.00 target price on shares of SBA Communications in a report on Friday, January 19th. Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. Finally, KeyCorp set a $188.00 target price on SBA Communications and gave the company a “buy” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $172.50.
Shares of NASDAQ SBAC opened at $169.73 on Friday. SBA Communications has a 1-year low of $119.53 and a 1-year high of $177.67. The firm has a market cap of $20,003.09, a price-to-earnings ratio of 171.44, a PEG ratio of 18.03 and a beta of 0.86. The company has a debt-to-equity ratio of -3.57, a current ratio of 0.93 and a quick ratio of 0.93.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, February 26th. The technology company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $0.18 by $1.60. SBA Communications had a negative return on equity of 5.43% and a net margin of 6.00%. The business had revenue of $443.10 million during the quarter, compared to analyst estimates of $437.01 million. During the same period in the prior year, the company earned $0.04 earnings per share. SBA Communications’s revenue was up 6.4% compared to the same quarter last year. analysts anticipate that SBA Communications will post 0.95 earnings per share for the current year.
SBA Communications declared that its Board of Directors has authorized a stock repurchase plan on Monday, February 26th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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SBA Communications Company Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By ?Building Better Wireless,? SBA generates revenue from two primary businesses ? site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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