Geode Capital Management LLC boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,498,094 shares of the technology company’s stock after purchasing an additional 80,550 shares during the quarter. Geode Capital Management LLC owned approximately 1.32% of SBA Communications worth $242,108,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Flinton Capital Management LLC lifted its holdings in shares of SBA Communications by 11.7% during the 4th quarter. Flinton Capital Management LLC now owns 6,188 shares of the technology company’s stock worth $1,001,000 after acquiring an additional 646 shares during the last quarter. First Bank & Trust increased its position in shares of SBA Communications by 1.8% in the fourth quarter. First Bank & Trust now owns 5,361 shares of the technology company’s stock valued at $868,000 after acquiring an additional 93 shares during the period. Advisor Partners LLC purchased a new position in shares of SBA Communications in the fourth quarter valued at about $276,000. Great West Life Assurance Co. Can increased its position in shares of SBA Communications by 55.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 118,166 shares of the technology company’s stock valued at $18,303,000 after acquiring an additional 41,917 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in shares of SBA Communications in the fourth quarter valued at about $139,000. Institutional investors own 94.28% of the company’s stock.
NASDAQ:SBAC traded up $2.00 during mid-day trading on Friday, hitting $226.50. 717,825 shares of the company’s stock were exchanged, compared to its average volume of 672,647. The firm has a market capitalization of $25.69 billion, a P/E ratio of 29.80, a PEG ratio of 2.93 and a beta of 0.68. SBA Communications Co. has a one year low of $146.13 and a one year high of $227.98.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($1.66). SBA Communications had a net margin of 2.20% and a negative return on equity of 1.44%. The company had revenue of $493.29 million for the quarter, compared to the consensus estimate of $481.06 million. During the same quarter last year, the company earned $1.85 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts anticipate that SBA Communications Co. will post 7.75 earnings per share for the current year.
SBAC has been the topic of several research analyst reports. UBS Group cut shares of SBA Communications from a “buy” rating to a “neutral” rating and boosted their price target for the company from $209.00 to $240.00 in a research report on Friday, June 7th. Morgan Stanley boosted their price target on shares of SBA Communications from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, March 11th. BidaskClub upgraded shares of SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 10th. Guggenheim cut shares of SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 price target on the stock. in a research report on Friday, February 22nd. Finally, Bank of America boosted their price target on shares of SBA Communications from $189.00 to $211.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $204.91.
In other news, EVP Kurt L. Bagwell sold 14,320 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $225.53, for a total value of $3,229,589.60. Following the completion of the sale, the executive vice president now directly owns 58,375 shares of the company’s stock, valued at $13,165,313.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George R. Krouse, Jr. sold 1,899 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $204.16, for a total transaction of $387,699.84. Following the transaction, the director now owns 10,481 shares of the company’s stock, valued at approximately $2,139,800.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,978 shares of company stock valued at $14,787,645. 2.50% of the stock is owned by corporate 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.
See Also: Net Asset Value
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