Summit Trail Advisors LLC lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 28.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,364 shares of the technology company’s stock after selling 542 shares during the quarter. Summit Trail Advisors LLC’s holdings in SBA Communications were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in SBA Communications by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 5,319,778 shares of the technology company’s stock worth $909,256,000 after purchasing an additional 14,838 shares during the period. Goldman Sachs Group Inc. boosted its stake in SBA Communications by 26.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,582,045 shares of the technology company’s stock worth $421,803,000 after purchasing an additional 545,374 shares during the period. Dimensional Fund Advisors LP boosted its stake in SBA Communications by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,694,899 shares of the technology company’s stock worth $289,691,000 after purchasing an additional 88,920 shares during the period. Wells Fargo & Company MN boosted its stake in SBA Communications by 17.3% in the 1st quarter. Wells Fargo & Company MN now owns 1,544,179 shares of the technology company’s stock worth $263,930,000 after purchasing an additional 228,221 shares during the period. Finally, Brookfield Asset Management Inc. boosted its stake in SBA Communications by 9.9% in the 4th quarter. Brookfield Asset Management Inc. now owns 945,342 shares of the technology company’s stock worth $154,431,000 after purchasing an additional 85,000 shares during the period. Institutional investors and hedge funds own 94.13% of the company’s stock.
SBAC has been the subject of several analyst reports. BidaskClub upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. ValuEngine raised SBA Communications from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Morgan Stanley lowered their price target on SBA Communications from $182.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $175.54.
NASDAQ:SBAC opened at $165.46 on Friday. SBA Communications Co. has a twelve month low of $133.27 and a twelve month high of $177.67. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 171.28, a price-to-earnings-growth ratio of 17.69 and a beta of 0.86. The company has a debt-to-equity ratio of -3.62, a quick ratio of 1.21 and a current ratio of 1.21.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, April 30th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.07. SBA Communications had a negative return on equity of 4.79% and a net margin of 5.54%. The firm had revenue of $458.30 million for the quarter, compared to analysts’ expectations of $453.50 million. During the same quarter last year, the firm posted $1.69 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. research analysts expect that SBA Communications Co. will post 0.92 earnings per share for the current fiscal year.
In related news, EVP Kurt L. Bagwell sold 126,605 shares of the firm’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $165.06, for a total transaction of $20,897,421.30. Following the transaction, the executive vice president now directly owns 42,089 shares of the company’s stock, valued at approximately $6,947,210.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George R. Krouse, Jr. sold 2,202 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $157.56, for a total value of $346,947.12. Following the transaction, the director now directly owns 12,733 shares in the company, valued at $2,006,211.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,984 shares of company stock worth $37,231,290. 2.70% of the stock is currently owned by insiders.
SBA Communications 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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