SBA Communications Co. (SBAC) Stake Decreased by Engineers Gate Manager LP

Engineers Gate Manager LP decreased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 6.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,325 shares of the technology company’s stock after selling 2,613 shares during the quarter. SBA Communications comprises about 0.5% of Engineers Gate Manager LP’s portfolio, making the stock its 21st biggest position. Engineers Gate Manager LP’s holdings in SBA Communications were worth $5,521,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SBAC. D.A. Davidson & CO. raised its stake in SBA Communications by 18.8% in the 2nd quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after acquiring an additional 120 shares during the last quarter. Creative Planning raised its stake in SBA Communications by 40.7% in the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after acquiring an additional 253 shares during the last quarter. Sun Life Financial INC purchased a new position in SBA Communications in the 3rd quarter worth $127,000. Acadian Asset Management LLC purchased a new position in SBA Communications in the 2nd quarter worth $159,000. Finally, Advisor Group Inc. raised its stake in SBA Communications by 9.7% in the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after acquiring an additional 114 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Co. (SBAC) opened at $162.20 on Tuesday. The firm has a market capitalization of $19,883.40, a PE ratio of 211.45 and a beta of 0.77. SBA Communications Co. has a 52 week low of $96.91 and a 52 week high of $173.97. The company has a debt-to-equity ratio of -3.63, a quick ratio of 0.32 and a current ratio of 0.32.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. The business had revenue of $433.90 million during the quarter, compared to analyst estimates of $431.42 million. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. equities research analysts expect that SBA Communications Co. will post 0.96 earnings per share for the current fiscal year.

In related news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total value of $338,850.49. Following the completion of the transaction, the director now owns 11,999 shares in the company, valued at approximately $2,033,950.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

SBAC has been the subject of a number of research analyst reports. KeyCorp restated a “buy” rating and issued a $179.00 target price (up previously from $170.00) on shares of SBA Communications in a research note on Wednesday, November 1st. Royal Bank Of Canada restated a “buy” rating and issued a $200.00 target price on shares of SBA Communications in a research note on Thursday, November 30th. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. UBS began coverage on SBA Communications in a research note on Wednesday, October 18th. They issued a “buy” rating and a $176.00 target price for the company. Finally, Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $159.40.

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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.

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

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