5,187 Shares in SBA Communications Corporation $SBAC Bought by Groupama Asset Managment

Groupama Asset Managment acquired a new position in SBA Communications Corporation (NASDAQ:SBAC) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,187 shares of the technology company’s stock, valued at approximately $893,000.

A number of other hedge funds also recently bought and sold shares of the company. Groupe la Francaise boosted its position in SBA Communications by 8.7% in the first quarter. Groupe la Francaise now owns 2,181 shares of the technology company’s stock worth $375,000 after purchasing an additional 175 shares during the last quarter. Bank of America Corp DE increased its position in shares of SBA Communications by 41.7% during the 1st quarter. Bank of America Corp DE now owns 1,005,366 shares of the technology company’s stock valued at $173,033,000 after purchasing an additional 295,727 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of SBA Communications in the 1st quarter worth approximately $631,000. Oddo BHF Asset Management Sas boosted its holdings in shares of SBA Communications by 4.7% in the first quarter. Oddo BHF Asset Management Sas now owns 7,003 shares of the technology company’s stock worth $1,205,000 after buying an additional 317 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in SBA Communications by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 728 shares of the technology company’s stock valued at $125,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBAC. Scotiabank increased their price target on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Morgan Stanley upped their price objective on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. KeyCorp raised their target price on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Royal Bank Of Canada lowered their target price on SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Finally, Truist Financial reissued a “buy” rating and set a $248.00 price target (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.28.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $180.99 on Friday. The company has a market cap of $19.20 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.81 and a beta of 1.00. The firm’s fifty day moving average is $189.42 and its two-hundred day moving average is $194.67. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $234.64.

SBA Communications 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.