SBA Communications Co. (NASDAQ:SBAC) Stock Position Lifted by KBC Group NV

KBC Group NV boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 212.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 410,023 shares of the technology company’s stock after buying an additional 278,737 shares during the quarter. KBC Group NV’s holdings in SBA Communications were worth $83,562,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SBAC. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the third quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in SBA Communications in the third quarter valued at about $35,000. Friedenthal Financial acquired a new position in SBA Communications in the 3rd quarter worth about $50,000. Farther Finance Advisors LLC raised its stake in shares of SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of SBA Communications during the 3rd quarter valued at about $58,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. TD Cowen increased their price target on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Raymond James upped their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company cut their target price on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $252.46.

SBA Communications Stock Performance

NASDAQ SBAC opened at $196.83 on Monday. The stock has a 50-day simple moving average of $209.38 and a 200 day simple moving average of $221.65. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $252.64. The stock has a market capitalization of $21.16 billion, a PE ratio of 31.05, a P/E/G ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $3.34 earnings per share. As a group, equities research analysts forecast that SBA Communications Co. will post 12.57 EPS for the current fiscal year.

SBA Communications Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.