Ariel Capital Advisors LLC acquired a new position in SBA Communications Corp. (NASDAQ:SBAC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,875 shares of the company’s stock, valued at approximately $202,000.
Other hedge funds have also recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its position in shares of SBA Communications Corp. by 4.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,793 shares of the company’s stock worth $194,000 after buying an additional 82 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of SBA Communications Corp. by 0.9% in the second quarter. Capstone Asset Management Co. now owns 2,331 shares of the company’s stock worth $252,000 after buying an additional 20 shares during the last quarter. Atria Investments LLC bought a new position in shares of SBA Communications Corp. during the second quarter worth about $271,000. Oakbrook Investments LLC bought a new position in shares of SBA Communications Corp. during the second quarter worth about $278,000. Finally, BlueMountain Capital Management LLC boosted its position in shares of SBA Communications Corp. by 27.7% in the first quarter. BlueMountain Capital Management LLC now owns 3,149 shares of the company’s stock worth $315,000 after buying an additional 683 shares during the last quarter. 95.54% of the stock is currently owned by institutional investors.
SBA Communications Corp. (NASDAQ:SBAC) traded up 0.50% during mid-day trading on Friday, reaching $112.16. The company had a trading volume of 721,554 shares. SBA Communications Corp. has a 12 month low of $82.80 and a 12 month high of $121.45. The firm’s 50-day moving average price is $113.08 and its 200-day moving average price is $106.35. The stock’s market cap is $13.98 billion.
SBA Communications Corp. (NASDAQ:SBAC) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.12. SBA Communications Corp. had a negative return on equity of 3.93% and a negative net margin of 2.41%. The firm had revenue of $405.50 million for the quarter, compared to the consensus estimate of $403.37 million. During the same quarter in the prior year, the business earned $1.42 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts forecast that SBA Communications Corp. will post $0.94 EPS for the current fiscal year.
A number of equities analysts recently issued reports on the company. Jefferies Group restated a “buy” rating on shares of SBA Communications Corp. in a report on Saturday, August 6th. Citigroup Inc. restated a “buy” rating and issued a $132.00 target price (up from $112.00) on shares of SBA Communications Corp. in a report on Monday, July 11th. Barclays PLC lifted their target price on SBA Communications Corp. from $115.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, July 21st. Zacks Investment Research upgraded SBA Communications Corp. from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Thursday. Finally, BTIG Research restated a “buy” rating and issued a $142.00 target price (up from $135.00) on shares of SBA Communications Corp. in a report on Tuesday, July 19th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $124.27.
In other news, CEO Jeffrey Stoops sold 100,000 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $116.20, for a total value of $11,620,000.00. Following the transaction, the chief executive officer now owns 336,592 shares of the company’s stock, valued at approximately $39,111,990.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Duncan Cocroft purchased 500 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was bought at an average cost of $109.14 per share, for a total transaction of $54,570.00. The disclosure for this purchase can be found here. 2.10% of the stock is owned by insiders.
SBA Communications Corp. Company Profile
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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