Campbell & CO Investment Adviser LLC purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,255 shares of the technology company’s stock, valued at approximately $302,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Usca Ria LLC acquired a new position in shares of SBA Communications in the third quarter valued at approximately $25,000. Quest Capital Management Inc. ADV acquired a new position in shares of SBA Communications in the third quarter valued at approximately $36,000. Atlas Capital Advisors LLC acquired a new position in shares of SBA Communications in the third quarter valued at approximately $36,000. Prime Capital Investment Advisors LLC acquired a new position in shares of SBA Communications in the third quarter valued at approximately $42,000. Finally, Carroll Financial Associates Inc. increased its holdings in shares of SBA Communications by 139.4% in the fourth quarter. Carroll Financial Associates Inc. now owns 261 shares of the technology company’s stock valued at $62,000 after purchasing an additional 152 shares during the period. 93.12% of the stock is currently owned by institutional investors.
SBA Communications stock opened at $252.74 on Tuesday. SBA Communications Co. has a 1-year low of $175.17 and a 1-year high of $270.42. The company has a market cap of $28.50 billion, a PE ratio of 210.62, a price-to-earnings-growth ratio of 2.87 and a beta of 0.60. The stock’s 50 day moving average price is $242.93 and its 200 day moving average price is $243.45.
SBA Communications (NASDAQ:SBAC) last posted its quarterly 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). SBA Communications had a net margin of 6.89% and a negative return on equity of 4.16%. The business had revenue of $486.60 million during the quarter, compared to analysts’ expectations of $497.48 million. During the same quarter last year, the firm earned $1.92 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts expect that SBA Communications Co. will post 7.82 EPS for the current fiscal year.
In related news, Director Mary S. Chan sold 4,207 shares of SBA Communications stock in a transaction that occurred 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 directly owns 4,290 shares in the company, valued at $1,072,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.50% of the stock is owned by insiders.
A number of research analysts have recently issued reports on the company. Goldman Sachs Group raised SBA Communications from a “neutral” rating to a “buy” rating and boosted their target price for the company from $214.00 to $280.00 in a report on Monday, January 13th. ValuEngine lowered SBA Communications from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. BidaskClub raised SBA Communications from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. TheStreet lowered SBA Communications from a “b-” rating to a “c” rating in a report on Monday, October 28th. Finally, Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating and set a $253.00 price target on the stock in a research note on Saturday, November 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $251.33.
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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