SBA Communications Co. (SBAC) Position Reduced by Federated Investors Inc. PA

Federated Investors Inc. PA lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,837 shares of the technology company’s stock after selling 322 shares during the period. Federated Investors Inc. PA’s holdings in SBA Communications were worth $468,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. grew its stake in SBA Communications by 19.7% during the second quarter. BlackRock Inc. now owns 9,531,887 shares of the technology company’s stock valued at $1,573,907,000 after acquiring an additional 1,565,872 shares in the last quarter. Principal Financial Group Inc. grew its stake in SBA Communications by 0.3% during the first quarter. Principal Financial Group Inc. now owns 5,319,778 shares of the technology company’s stock valued at $909,256,000 after acquiring an additional 14,838 shares in the last quarter. Brown Advisory Inc. grew its stake in SBA Communications by 5.4% during the second quarter. Brown Advisory Inc. now owns 3,074,276 shares of the technology company’s stock valued at $507,625,000 after acquiring an additional 158,742 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in SBA Communications by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,719,077 shares of the technology company’s stock valued at $283,854,000 after acquiring an additional 24,178 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in SBA Communications by 33.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,716,621 shares of the technology company’s stock valued at $283,448,000 after acquiring an additional 431,539 shares in the last quarter. 94.64% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on the stock. Morgan Stanley dropped their target price on shares of SBA Communications from $182.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, May 31st. BidaskClub upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Zacks Investment Research lowered shares of SBA Communications from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 10th. Deutsche Bank lifted their target price on shares of SBA Communications from $170.00 to $183.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Finally, ValuEngine lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. SBA Communications currently has a consensus rating of “Buy” and an average price target of $179.55.

Shares of SBA Communications stock opened at $158.77 on Wednesday. SBA Communications Co. has a 1 year low of $141.09 and a 1 year high of $177.67. The company has a debt-to-equity ratio of -3.18, a quick ratio of 1.18 and a current ratio of 1.18.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, July 30th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.68). The company had revenue of $456.30 million for the quarter, compared to the consensus estimate of $457.43 million. SBA Communications had a net margin of 1.73% and a negative return on equity of 1.26%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 earnings per share. analysts forecast that SBA Communications Co. will post 7.07 EPS for the current year.

In other news, Director Brian C. Carr sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $155.00, for a total value of $124,000.00. Following the completion of the sale, the director now directly owns 3,070 shares in the company, valued at approximately $475,850. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kurt L. Bagwell sold 126,605 shares of the business’s stock in a transaction that occurred on Friday, June 29th. The stock was sold at an average price of $165.06, for a total transaction of $20,897,421.30. Following the completion of the sale, the executive vice president now owns 42,089 shares of the company’s stock, valued at $6,947,210.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 207,410 shares of company stock valued at $33,590,624. Company insiders own 2.70% of the company’s stock.

SBA Communications Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses ? site leasing and site development services.

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

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