Spectrum Management Group Inc. Takes $27,000 Position in SBA Communications Co. (SBAC)

Spectrum Management Group Inc. purchased a new stake in SBA Communications Co. (NASDAQ:SBAC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 135 shares of the technology company’s stock, valued at approximately $27,000.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of SBA Communications by 2.1% in the third quarter. Vanguard Group Inc. now owns 18,461,664 shares of the technology company’s stock valued at $2,965,496,000 after buying an additional 380,936 shares in the last quarter. Vanguard Group Inc increased its position in shares of SBA Communications by 2.1% in the third quarter. Vanguard Group Inc now owns 18,461,664 shares of the technology company’s stock valued at $2,965,496,000 after buying an additional 380,936 shares in the last quarter. Cohen & Steers Inc. increased its position in shares of SBA Communications by 428.1% in the fourth quarter. Cohen & Steers Inc. now owns 3,636,352 shares of the technology company’s stock valued at $588,689,000 after buying an additional 2,947,789 shares in the last quarter. American Century Companies Inc. increased its position in shares of SBA Communications by 3.5% in the fourth quarter. American Century Companies Inc. now owns 2,035,936 shares of the technology company’s stock valued at $329,598,000 after buying an additional 68,669 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of SBA Communications by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 1,498,094 shares of the technology company’s stock valued at $242,108,000 after buying an additional 80,550 shares in the last quarter. Institutional investors and hedge funds own 94.90% of the company’s stock.

SBAC opened at $198.88 on Wednesday. The firm has a market cap of $22.87 billion, a P/E ratio of 26.17, a P/E/G ratio of 2.60 and a beta of 0.83. SBA Communications Co. has a 52 week low of $146.13 and a 52 week high of $204.34.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Thursday, February 21st. The technology company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($1.33). SBA Communications had a net margin of 2.54% and a negative return on equity of 1.71%. The company had revenue of $483.85 million for the quarter, compared to analyst estimates of $472.87 million. During the same period in the previous year, the business earned $1.78 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. Research analysts expect that SBA Communications Co. will post 7.82 EPS for the current year.

In other SBA Communications news, EVP Jason V. Silberstein sold 51,369 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $190.71, for a total value of $9,796,581.99. Following the sale, the executive vice president now directly owns 60,154 shares of the company’s stock, valued at approximately $11,471,969.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Brian D. Lazarus sold 20,561 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $187.51, for a total value of $3,855,393.11. Following the completion of the sale, the senior vice president now directly owns 36,525 shares in the company, valued at $6,848,802.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,558 shares of company stock worth $45,484,249. 2.70% of the stock is owned by corporate insiders.

SBAC has been the topic of a number of analyst reports. ValuEngine lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. KeyCorp increased their price objective on SBA Communications from $176.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Guggenheim lowered SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a research note on Friday, February 22nd. BidaskClub lowered SBA Communications from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 20th. Finally, Bank of America increased their price objective on SBA Communications from $189.00 to $211.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $193.33.

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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. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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

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