Blair William & Co. IL decreased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 86.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,316 shares of the technology company’s stock after selling 52,766 shares during the quarter. Blair William & Co. IL’s holdings in SBA Communications were worth $1,336,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of SBAC. Cornerstone Wealth Management LLC bought a new stake in SBA Communications in the second quarter worth $193,000. Alps Advisors Inc. bought a new stake in SBA Communications during the second quarter valued at about $206,000. Dupont Capital Management Corp boosted its holdings in SBA Communications by 71.6% during the second quarter. Dupont Capital Management Corp now owns 1,227 shares of the technology company’s stock valued at $203,000 after acquiring an additional 512 shares during the period. First Trust Advisors LP bought a new stake in SBA Communications during the second quarter valued at about $14,146,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in SBA Communications during the second quarter valued at about $1,991,000. 94.25% of the stock is owned by institutional investors and hedge funds.
NASDAQ SBAC opened at $168.17 on Friday. SBA Communications Co. has a twelve month low of $146.13 and a twelve month 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 Thomson Reuters’ consensus estimate of $1.78 by ($1.64). SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. The company had revenue of $467.20 million during the quarter, compared to the consensus estimate of $459.17 million. During the same quarter in the previous year, the business posted $1.75 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, equities analysts forecast that SBA Communications Co. will post 7.15 EPS for the current fiscal year.
In related news, Director Brian C. Carr sold 249 shares of the stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $171.98, for a total value of $42,823.02. Following the completion of the sale, the director now owns 2,821 shares in the company, valued at $485,155.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the director now owns 75,742 shares of the company’s stock, valued at approximately $13,016,262.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 529,017 shares of company stock valued at $90,372,570. 2.70% of the stock is owned by corporate insiders.
SBAC has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of SBA Communications from $187.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, November 6th. BidaskClub upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Guggenheim set a $180.00 price target on shares of SBA Communications and gave the company a “buy” rating in a report on Wednesday, October 17th. Zacks Investment Research upgraded shares of SBA Communications from a “hold” rating to a “buy” rating and set a $192.00 price target for the company in a report on Thursday, November 15th. Finally, Bank of America set a $189.00 price target on shares of SBA Communications and gave the company a “buy” rating in a report on Thursday, November 15th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $180.90.
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About SBA Communications
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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