SBA Communications Co. (NASDAQ:SBAC) stock sold by Profund Advisors LLC | Panda Anku


Profund Advisors LLC reduced its stake in SBA Communications Co. (NASDAQ:SBAC – Get Rating) by 34.9% in the first quarter, the company said in its most recent filing with the Securities and Exchange Commission (SEC). The company owned 2,784 shares of the tech company after selling 1,494 shares during the quarter. Profund Advisors LLC’s interests in SBA Communications were valued at $958,000 at the time of the last SEC filing.

Other hedge funds have also recently changed their holdings in the company. PFG Advisors added 1.2% to its stake in SBA Communications during the first quarter. PFG Advisors now owns 2,621 shares of the technology company, valued at $902,000, having purchased an additional 30 shares during the period. Signaturefd LLC increased its stake in SBA Communications by 6.0% during the first quarter. Signaturefd LLC now owns 546 shares of the technology company, valued at $188,000, having acquired an additional 31 shares during the period. Hotaling Investment Management LLC increased its stake in SBA Communications by 4.9% in the first quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company, valued at $244,000, after purchasing an additional 33 shares during the period. Clearstead Advisors LLC increased its stake in SBA Communications by 4.3% during the first quarter. Clearstead Advisors LLC now owns 818 shares of the technology company, valued at $281,000, having purchased an additional 34 shares during this period. Finally, Great Lakes Advisors LLC increased its stake in SBA Communications by 6.3% during the first quarter. Great Lakes Advisors LLC now owns 678 shares of the technology company, valued at $233,000, after purchasing an additional 40 shares during the period. 95.41% of the shares are owned by institutional investors and hedge funds.

Wall Street analysts forecast growth

A number of research analysts recently rated the company. Wells Fargo & Company lowered its target price on SBA Communications to $355.00 from $390.00 and rated the company as “overweight” in a research report on Tuesday, July 19. Cowen raised his target price on SBA Communications from $373.00 to $382.00 in a research report on Tuesday, April 26. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays increased its target price on SBA Communications to $385.00 from $378.00 and rated the company as “overweight” in a research report on Tuesday, April 26. Finally, Morgan Stanley lowered its target price on SBA Communications to $361.00 from $389.00 and rated the company as “overweight” in a research report on Wednesday, July 20. Three equities research analysts have rated the stock with a hold rating, ten with a buy rating and one with a strong buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target of $384.67.

Insiders place their bets

In separate news from SBA Communications, director Duncan Cocroft sold 1,152 shares of the company in a transaction Thursday, August 4th. The stock sold at an average price of $344.50 for a total value of $396,864.00. Following the sale, the Director now directly owns 64,592 shares of the Company, valued at approximately $22,251,944. The sale was disclosed in a filing with the SEC, which can be accessed at this link. In addition, EVP Mark R. Ciarfella sold 8,213 shares of SBA Communications in a transaction on Monday, August 15. The stock sold at an average price of $355.50 for a total value of $2,919,721.50. Following the transaction, the Executive Vice President now directly owns 23,884 shares of the Company, valued at approximately $8,490,762. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. In addition, Director Duncan Cocroft sold 1,152 shares of SBA Communications in a transaction on Thursday, August 4th. The shares sold at an average price of $344.50 for a total value of $396,864.00. Upon completion of the transaction, the Director now directly owns 64,592 shares of the Company, valued at $22,251,944. The disclosure for this sale can be found here. Over the past ninety days, insiders have sold 85,152 shares of the company’s shares for $29,512,752. Insiders own 1.80% of the company’s shares.

SBA Communications Trading up 0.0%

SBA Communications shares opened at $344.49 on Friday. The stock has a 50-day moving average price of $325.99 and a 200-day moving average price of $330.60. SBA Communications Co. has a 52-week low of $286.41 and a 52-week high of $391.15. The stock has a market cap of $37.15 billion, a P/E of 106.65 and a beta of 0.43.

SBA Communications (NASDAQ:SBAC – Get Rating) last released its quarterly earnings results on Monday, August 1st. The tech company reported earnings per share (EPS) of $0.64 for the quarter, missing analyst consensus estimates of $0.90 ($0.26). SBA Communications had a negative return on equity of 6.73% and a net margin of 14.45%. The company had revenue of $652.01 million for the quarter, compared to analyst estimates of $626.30 million. In the same period last year, the company reported earnings per share of $2.64. The company’s quarterly revenue rose 13.3% year over year. On average, equity analysts are forecasting that SBA Communications Co. will post 11.2 EPS for the year to date.

SBA Communications announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Thursday, August 25 will receive a dividend of $0.71. That equates to a dividend of $2.84 on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday August 24th. The RTP of SBA Communications is 87.93%.

Corporate Profile of SBA Communications

(received rating)

SBA Communications Corporation is a provider of choice and leading owner and operator of wireless communications infrastructure in the Americas and South Africa. By building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

Further reading

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com for the latest 13F filings and insider trading for SBA Communications Co. (NASDAQ:SBAC – Get Rating).

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



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