Two Sigma Advisers LP raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 289.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 513,833 shares of the technology company’s stock after acquiring an additional 382,026 shares during the period. Two Sigma Advisers LP owned 0.44% of SBA Communications worth $83,940,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of SBAC. Acadian Asset Management LLC purchased a new stake in SBA Communications during the 4th quarter worth $108,000. Sun Life Financial INC purchased a new stake in SBA Communications during the 3rd quarter worth $127,000. Tower Research Capital LLC TRC boosted its position in SBA Communications by 168.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 809 shares of the technology company’s stock worth $132,000 after purchasing an additional 508 shares during the period. MAI Capital Management purchased a new stake in SBA Communications during the 4th quarter worth $204,000. Finally, Alps Advisors Inc. purchased a new position in SBA Communications in the 4th quarter valued at about $206,000. Institutional investors own 92.97% of the company’s stock.
Shares of SBA Communications Co. (NASDAQ:SBAC) opened at $170.34 on Wednesday. SBA Communications Co. has a 12 month low of $115.19 and a 12 month high of $177.67. The company has a market cap of $19,679.20, a P/E ratio of 170.62, a price-to-earnings-growth ratio of 16.24 and a beta of 0.92. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of -3.57.
SBA Communications declared that its board has approved a share buyback plan on Monday, February 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
SBAC has been the subject of a number of analyst reports. Morgan Stanley upped their price objective on shares of SBA Communications from $169.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, November 14th. Zacks Investment Research cut shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. BidaskClub cut shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Cowen reaffirmed a “buy” rating and set a $170.00 price target (up previously from $155.00) on shares of SBA Communications in a research report on Tuesday, December 5th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $200.00 price target on shares of SBA Communications in a research report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $173.07.
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SBA Communications 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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