Fox Run Management L.L.C. Buys Shares of 14,280 SBA Communications Corporation $SBAC

Fox Run Management L.L.C. purchased a new position in SBA Communications Corporation (NASDAQ:SBAC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,280 shares of the technology company’s stock, valued at approximately $2,761,000. SBA Communications makes up approximately 0.4% of Fox Run Management L.L.C.’s portfolio, making the stock its 5th biggest holding.

Several other institutional investors have also modified their holdings of SBAC. Jones Financial Companies Lllp grew its position in shares of SBA Communications by 272.8% in the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after purchasing an additional 551 shares during the period. Empowered Funds LLC lifted its stake in SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after buying an additional 229 shares in the last quarter. Focus Partners Wealth lifted its stake in SBA Communications by 9.0% in the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after buying an additional 266 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of SBA Communications by 0.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,547 shares of the technology company’s stock worth $52,733,000 after acquiring an additional 810 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SBAC shares. TD Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. Williams Trading set a $237.00 price target on SBA Communications in a research note on Tuesday, November 4th. UBS Group reduced their price objective on SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. Royal Bank Of Canada decreased their price objective on SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Finally, Scotiabank cut their target price on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $235.18.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $201.60 on Wednesday. SBA Communications Corporation has a 52-week low of $177.49 and a 52-week high of $245.16. The company has a market cap of $21.48 billion, a P/E ratio of 26.28, a P/E/G ratio of 1.89 and a beta of 0.87. The stock’s 50-day simple moving average is $190.28 and its 200 day simple moving average is $195.41.

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.