Wealthfront Advisers LLC lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 54.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,090 shares of the technology company’s stock after purchasing an additional 2,159 shares during the period. Wealthfront Advisers LLC’s holdings in SBA Communications were worth $1,468,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Usca Ria LLC bought a new position in shares of SBA Communications during the third quarter worth approximately $25,000. Quest Capital Management Inc. ADV bought a new position in shares of SBA Communications during the third quarter worth approximately $36,000. Atlas Capital Advisors LLC bought a new position in shares of SBA Communications during the third quarter worth approximately $36,000. Prime Capital Investment Advisors LLC bought a new position in shares of SBA Communications during the third quarter worth approximately $42,000. Finally, CSat Investment Advisory L.P. increased its stake in shares of SBA Communications by 194.8% during the second quarter. CSat Investment Advisory L.P. now owns 227 shares of the technology company’s stock worth $51,000 after purchasing an additional 150 shares during the period. Institutional investors own 93.60% of the company’s stock.
A number of brokerages recently issued reports on SBAC. TheStreet downgraded SBA Communications from a “b-” rating to a “c” rating in a research report on Monday, October 28th. BidaskClub raised SBA Communications from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Goldman Sachs Group raised SBA Communications from a “neutral” rating to a “buy” rating and increased their price target for the stock from $214.00 to $280.00 in a research report on Monday, January 13th. ValuEngine downgraded SBA Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research raised SBA Communications from a “sell” rating to a “hold” rating and set a $253.00 price target on the stock in a research report on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $251.33.
In other SBA Communications news, Director Mary S. Chan sold 4,207 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $250.00, for a total value of $1,051,750.00. Following the sale, the director now owns 4,290 shares of the company’s stock, valued at approximately $1,072,500. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.
Shares of NASDAQ:SBAC opened at $255.01 on Friday. The company has a market capitalization of $28.44 billion, a P/E ratio of 212.51, a P/E/G ratio of 2.86 and a beta of 0.60. SBA Communications Co. has a 1 year low of $173.41 and a 1 year high of $270.42. The business’s 50 day simple moving average is $241.58 and its 200 day simple moving average is $243.06.
SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.97 by ($1.78). The business had revenue of $486.60 million during the quarter, compared to analyst estimates of $497.48 million. SBA Communications had a net margin of 6.89% and a negative return on equity of 4.16%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 EPS. Sell-side analysts predict that SBA Communications Co. will post 7.82 EPS for the current fiscal year.
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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