KBC Group NV lowered its position in SBA Communications Co. (NASDAQ:SBAC) by 17.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,716 shares of the technology company’s stock after selling 27,132 shares during the period. KBC Group NV owned approximately 0.11% of SBA Communications worth $15,734,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC raised its position in shares of SBA Communications by 12.5% in the third quarter. Acrospire Investment Management LLC now owns 900 shares of the technology company’s stock worth $101,000 after buying an additional 100 shares in the last quarter. Van ECK Associates Corp raised its position in shares of SBA Communications by 24.7% in the fourth quarter. Van ECK Associates Corp now owns 1,040 shares of the technology company’s stock worth $107,000 after buying an additional 206 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of SBA Communications during the fourth quarter worth $124,000. Toronto Dominion Bank raised its position in shares of SBA Communications by 25.7% in the first quarter. Toronto Dominion Bank now owns 1,358 shares of the technology company’s stock worth $163,000 after buying an additional 278 shares in the last quarter. Finally, Boston Advisors LLC acquired a new position in shares of SBA Communications during the first quarter worth $201,000. 95.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SBA Communications Co. (NASDAQ:SBAC) traded up 0.61% during mid-day trading on Friday, hitting $132.80. The stock had a trading volume of 855,374 shares. SBA Communications Co. has a 12-month low of $95.66 and a 12-month high of $136.34. The firm has a market cap of $16.11 billion, a P/E ratio of 275.52 and a beta of 0.72. The company has a 50 day moving average price of $125.89 and a 200 day moving average price of $111.72.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, May 1st. The technology company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $0.21 by $1.48. The business had revenue of $423.40 million during the quarter, compared to analyst estimates of $418.21 million. SBA Communications had a negative return on equity of 2.24% and a net margin of 6.38%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $1.45 EPS. Equities analysts forecast that SBA Communications Co. will post $1.05 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the company. Stifel Nicolaus set a $148.00 price objective on SBA Communications and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Cowen and Company boosted their target price on SBA Communications from $131.00 to $141.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 2nd. Jefferies Group LLC boosted their target price on SBA Communications from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Goldman Sachs Group Inc boosted their target price on SBA Communications from $121.00 to $131.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 2nd. Finally, Zacks Investment Research downgraded SBA Communications from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. SBA Communications has an average rating of “Buy” and a consensus price target of $133.93.
In other news, Director Kevin L. Beebe sold 570 shares of the firm’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $118.12, for a total transaction of $67,328.40. Following the completion of the sale, the director now directly owns 9,097 shares of the company’s stock, valued at approximately $1,074,537.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Stoops sold 94,289 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $133.76, for a total value of $12,612,096.64. Following the sale, the chief executive officer now directly owns 329,124 shares of the company’s stock, valued at $44,023,626.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,827 shares of company stock valued at $16,399,209. Corporate insiders own 2.10% of the company’s stock.
About SBA Communications
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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