SBA Communications Co. (SBAC) Position Reduced by First Trust Advisors LP

First Trust Advisors LP reduced its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 85.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,654 shares of the technology company’s stock after selling 73,017 shares during the quarter. First Trust Advisors LP’s holdings in SBA Communications were worth $2,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. TD Asset Management Inc. increased its position in SBA Communications by 0.4% during the 2nd quarter. TD Asset Management Inc. now owns 100,820 shares of the technology company’s stock valued at $16,647,000 after purchasing an additional 391 shares during the period. Nisa Investment Advisors LLC increased its position in SBA Communications by 1.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 28,700 shares of the technology company’s stock valued at $4,610,000 after purchasing an additional 405 shares during the period. Fiduciary Financial Services of The Southwest Inc. TX increased its position in SBA Communications by 14.1% during the 3rd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 3,477 shares of the technology company’s stock valued at $559,000 after purchasing an additional 429 shares during the period. PNC Financial Services Group Inc. increased its position in SBA Communications by 3.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 13,644 shares of the technology company’s stock valued at $2,254,000 after purchasing an additional 460 shares during the period. Finally, Dupont Capital Management Corp increased its position in SBA Communications by 71.6% during the 2nd quarter. Dupont Capital Management Corp now owns 1,227 shares of the technology company’s stock valued at $203,000 after purchasing an additional 512 shares during the period. Institutional investors own 94.96% of the company’s stock.

In related news, Director Duncan Cocroft sold 12,543 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $171.85, for a total transaction of $2,155,514.55. Following the sale, the director now directly owns 75,742 shares of the company’s stock, valued at approximately $13,016,262.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brendan Thomas Cavanagh sold 147,717 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $172.16, for a total transaction of $25,430,958.72. Following the sale, the insider now directly owns 81,810 shares in the company, valued at $14,084,409.60. The disclosure for this sale can be found here. Insiders sold a total of 529,017 shares of company stock worth $90,372,570 over the last ninety days. Insiders own 2.70% of the company’s stock.

SBAC has been the topic of a number of research analyst reports. Guggenheim set a $180.00 price objective on shares of SBA Communications and gave the company a “buy” rating in a research report on Wednesday, October 17th. BidaskClub downgraded shares of SBA Communications from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 11th. ValuEngine raised shares of SBA Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Citigroup boosted their price objective on shares of SBA Communications from $187.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, November 6th. Finally, Macquarie reduced their price objective on shares of SBA Communications from $166.00 to $161.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 29th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. SBA Communications has an average rating of “Buy” and an average target price of $179.91.

NASDAQ:SBAC opened at $170.81 on Monday. SBA Communications Co. has a 1-year low of $146.13 and a 1-year high of $177.67.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, November 5th. The technology company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($1.64). The business had revenue of $467.20 million during the quarter, compared to analysts’ expectations of $459.17 million. SBA Communications had a negative return on equity of 0.65% and a negative net margin of 0.11%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.75 earnings per share. As a group, equities research analysts forecast that SBA Communications Co. will post 7.15 EPS for the current year.

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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.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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