State of Wisconsin Investment Board raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,340 shares of the technology company’s stock after acquiring an additional 3,236 shares during the quarter. State of Wisconsin Investment Board’s holdings in SBA Communications were worth $25,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC bought a new stake in SBA Communications during the 4th quarter valued at $108,000. Sun Life Financial INC bought a new stake in SBA Communications during the 3rd quarter valued at $127,000. Toronto Dominion Bank raised its holdings in SBA Communications by 9.5% during the 2nd 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. MAI Capital Management bought a new stake in SBA Communications during the 4th quarter valued at $204,000. Finally, Alps Advisors Inc. bought a new stake in SBA Communications during the 4th quarter valued at $206,000. 95.59% of the stock is currently owned by institutional investors and hedge funds.
SBAC has been the topic of a number of analyst reports. Morgan Stanley boosted their target price on shares of SBA Communications from $169.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, November 14th. BidaskClub raised shares of SBA Communications from a “strong sell” rating to a “sell” rating in a report on Thursday, January 25th. Royal Bank of Canada reissued a “buy” rating and set a $200.00 target price on shares of SBA Communications in a report on Thursday, November 30th. Zacks Investment Research cut shares of SBA Communications from a “hold” rating to a “sell” rating in a report on Friday, February 9th. Finally, KeyCorp reissued a “buy” rating and set a $179.00 target price (up previously from $170.00) on shares of SBA Communications in a report on Wednesday, November 1st. 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 company. The stock currently has a consensus rating of “Buy” and an average target price of $165.07.
SBA Communications Co. (NASDAQ SBAC) opened at $169.12 on Tuesday. The company has a market cap of $19,878.70, a price-to-earnings ratio of 201.33 and a beta of 0.85. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63. SBA Communications Co. has a 1 year low of $108.07 and a 1 year high of $177.67.
SBA Communications Company 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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