Groupama Asset Managment Makes New $893,000 Investment in SBA Communications Corporation $SBAC

Groupama Asset Managment bought a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,187 shares of the technology company’s stock, valued at approximately $893,000.

Other hedge funds also recently made changes to their positions in the company. DV Equities LLC purchased a new stake in SBA Communications in the fourth quarter worth $29,000. Fulcrum Asset Management LLP bought a new stake in shares of SBA Communications during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. grew its position in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the period. High Point Wealth Management LLC purchased a new stake in shares of SBA Communications in the 4th quarter worth about $39,000. Finally, Commonwealth Retirement Investments LLC bought a new position in shares of SBA Communications in the 4th quarter worth about $39,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Down 0.5%

Shares of NASDAQ SBAC opened at $180.99 on Friday. The firm’s 50-day moving average price is $189.42 and its 200-day moving average price is $194.67. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $234.64. The company has a market cap of $19.20 billion, a PE ratio of 19.05, a PEG ratio of 1.81 and a beta of 1.00.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SBAC shares. Wells Fargo & Company raised shares of SBA Communications from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $220.00 to $210.00 in a research report on Friday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SBA Communications in a research note on Monday, July 20th. Morgan Stanley raised their target price on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Barclays lifted their target price on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Finally, KeyCorp upped their price target on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.28.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.