Candriam Luxembourg S.C.A. held its position in shares of SBA Communications Corporation (NASDAQ:SBAC) during the second quarter, Holdings Channel reports. The fund owned 19,664 shares of the technology company’s stock at the end of the second quarter. Candriam Luxembourg S.C.A.’s holdings in SBA Communications Corporation were worth $2,653,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of SBA Communications Corporation by 2,233.0% in the first quarter. BlackRock Inc. now owns 8,450,685 shares of the technology company’s stock valued at $1,017,210,000 after buying an additional 8,088,459 shares during the last quarter. Principal Financial Group Inc. boosted its stake in SBA Communications Corporation by 1.1% in the first quarter. Principal Financial Group Inc. now owns 5,644,327 shares of the technology company’s stock valued at $679,407,000 after buying an additional 60,436 shares during the period. William Blair Investment Management LLC boosted its stake in SBA Communications Corporation by 4.3% in the first quarter. William Blair Investment Management LLC now owns 2,466,382 shares of the technology company’s stock valued at $296,878,000 after buying an additional 101,156 shares during the period. American Century Companies Inc. boosted its stake in SBA Communications Corporation by 30.0% in the first quarter. American Century Companies Inc. now owns 1,578,092 shares of the technology company’s stock valued at $189,955,000 after buying an additional 363,969 shares during the period. Finally, Iridian Asset Management LLC CT acquired a new stake in SBA Communications Corporation during the first quarter valued at approximately $169,022,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.
Shares of SBA Communications Corporation (SBAC) opened at 139.03 on Thursday. The company’s 50-day moving average price is $135.89 and its 200 day moving average price is $124.88. SBA Communications Corporation has a 52 week low of $95.66 and a 52 week high of $141.59. The company has a market cap of $16.82 billion, a P/E ratio of 477.77 and a beta of 0.73.
SBA Communications Corporation (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by $0.01. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The company had revenue of $427.30 million during the quarter, compared to analyst estimates of $426.10 million. During the same period in the prior year, the business posted $1.48 EPS. SBA Communications Corporation’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that SBA Communications Corporation will post $0.98 earnings per share for the current fiscal year.
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SBAC has been the topic of several recent analyst reports. Zacks Investment Research raised SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price objective on the stock in a research report on Thursday, July 20th. Barclays PLC reaffirmed an “overweight” rating and set a $148.00 price objective on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Deutsche Bank AG reaffirmed a “hold” rating and set a $150.00 price objective (up from $133.00) on shares of SBA Communications Corporation in a research report on Friday, July 14th. Citigroup Inc. increased their price objective on SBA Communications Corporation from $124.00 to $134.00 and gave the company a “neutral” rating in a research report on Tuesday, April 25th. Finally, BidaskClub raised SBA Communications Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $141.57.
In other SBA Communications Corporation news, EVP Mark R. Ciarfella sold 9,655 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the completion of the sale, the executive vice president now owns 21,403 shares of the company’s stock, valued at $3,012,258.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Brian C. Carr sold 3,475 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $132.54, for a total value of $460,576.50. Following the sale, the director now directly owns 3,051 shares of the company’s stock, valued at approximately $404,379.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,179 shares of company stock valued at $22,588,671. Insiders own 2.10% of the company’s stock.
About SBA Communications Corporation
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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