Nisa Investment Advisors LLC grew its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,010 shares of the technology company’s stock after buying an additional 3,560 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SBA Communications were worth $5,792,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. GSA Capital Partners LLP purchased a new stake in shares of SBA Communications during the third quarter valued at approximately $247,000. LPL Financial LLC increased its position in shares of SBA Communications by 46.2% during the third quarter. LPL Financial LLC now owns 12,883 shares of the technology company’s stock valued at $2,069,000 after acquiring an additional 4,073 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of SBA Communications by 13.2% during the third quarter. Pacer Advisors Inc. now owns 6,643 shares of the technology company’s stock valued at $1,067,000 after acquiring an additional 776 shares during the last quarter. Vident Investment Advisory LLC increased its position in shares of SBA Communications by 49.8% during the third quarter. Vident Investment Advisory LLC now owns 2,104 shares of the technology company’s stock valued at $338,000 after acquiring an additional 699 shares during the last quarter. Finally, Putnam Investments LLC increased its position in shares of SBA Communications by 32.9% during the third quarter. Putnam Investments LLC now owns 39,553 shares of the technology company’s stock valued at $6,353,000 after acquiring an additional 9,789 shares during the last quarter. Institutional investors own 94.90% of the company’s stock.
In other news, Director Duncan Cocroft sold 1,643 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total value of $298,763.12. Following the completion of the transaction, the director now directly owns 77,385 shares of the company’s stock, valued at $14,071,688.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Steven E. Bernstein sold 30,241 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $182.71, for a total value of $5,525,333.11. Following the completion of the transaction, the chairman now directly owns 15,606 shares of the company’s stock, valued at $2,851,372.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,558 shares of company stock valued at $45,484,249. 2.50% of the stock is owned by corporate insiders.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Thursday, February 21st. The technology company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $483.85 million for the quarter, compared to the consensus estimate of $472.87 million. During the same period last year, the company posted $1.78 earnings per share. SBA Communications’s revenue for the quarter was up 9.2% on a year-over-year basis. Analysts predict that SBA Communications Co. will post 7.82 earnings per share for the current fiscal year.
A number of brokerages recently commented on SBAC. BidaskClub raised SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 10th. KeyCorp increased their price objective on SBA Communications from $176.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, February 12th. Guggenheim lowered SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 price objective for the company. in a report on Friday, February 22nd. Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Finally, SunTrust Banks reissued a “buy” rating and set a $217.00 price objective on shares of SBA Communications in a report on Thursday, April 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $193.33.
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SBA Communications Company 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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