SBA Communications Co. (SBAC) Stake Cut by KBC Group NV

KBC Group NV lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 17.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 130,716 shares of the technology company’s stock after selling 27,132 shares during the period. KBC Group NV’s holdings in SBA Communications were worth $15,734,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SBAC. First Bank & Trust boosted its stake in SBA Communications by 0.3% in the first quarter. First Bank & Trust now owns 4,086 shares of the technology company’s stock worth $492,000 after buying an additional 13 shares during the last quarter. Atria Investments LLC raised its position in SBA Communications by 0.6% in the first quarter. Atria Investments LLC now owns 3,283 shares of the technology company’s stock valued at $395,000 after buying an additional 21 shares during the period. Grassi Investment Management raised its position in SBA Communications by 0.3% in the first quarter. Grassi Investment Management now owns 8,800 shares of the technology company’s stock valued at $1,059,000 after buying an additional 25 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in SBA Communications by 2.9% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,309 shares of the technology company’s stock valued at $372,000 after buying an additional 92 shares during the period. Finally, Acrospire Investment Management LLC raised its position in SBA Communications by 12.5% in the third quarter. Acrospire Investment Management LLC now owns 900 shares of the technology company’s stock valued at $101,000 after buying an additional 100 shares during the period. 95.31% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

Shares of SBA Communications Co. (NASDAQ:SBAC) traded up 0.61% during trading on Friday, reaching $132.80. The company had a trading volume of 855,374 shares. The company has a market cap of $16.11 billion, a price-to-earnings ratio of 275.52 and a beta of 0.72. The firm has a 50 day moving average price of $125.89 and a 200 day moving average price of $111.72. SBA Communications Co. has a 12 month low of $95.66 and a 12 month high of $136.34.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, May 1st. The technology company reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $1.48. The firm had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $418.21 million. SBA Communications had a net margin of 6.38% and a negative return on equity of 2.24%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 EPS. Analysts predict that SBA Communications Co. will post $1.05 earnings per share for the current year.

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Several research firms have weighed in on SBAC. Barclays PLC raised their target price on SBA Communications from $136.00 to $137.00 and gave the company an “overweight” rating in a report on Wednesday, May 3rd. Jefferies Group LLC raised their target price on SBA Communications from $133.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, May 2nd. Cowen and Company raised their target price on SBA Communications from $131.00 to $141.00 and gave the company an “outperform” rating in a report on Tuesday, May 2nd. Goldman Sachs Group Inc raised their target price on SBA Communications from $121.00 to $131.00 and gave the company a “neutral” rating in a report on Tuesday, May 2nd. Finally, Stifel Nicolaus set a $148.00 target price on SBA Communications and gave the company a “buy” rating in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $133.93.

In other SBA Communications news, CEO Jeffrey Stoops sold 94,289 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $133.76, for a total value of $12,612,096.64. Following the transaction, the chief executive officer now directly owns 329,124 shares of the company’s stock, valued at approximately $44,023,626.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian C. Carr sold 3,475 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $132.54, for a total transaction of $460,576.50. Following the completion of the transaction, the director now directly owns 3,051 shares in the company, valued at $404,379.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,827 shares of company stock worth $16,399,209. Insiders own 2.10% of the company’s stock.

SBA Communications 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.

12 Month Chart for NASDAQ:SBAC

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