DF Dent & Co. Inc. Increases Stake in SBA Communications Co. (SBAC)

DF Dent & Co. Inc. increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,466 shares of the technology company’s stock after buying an additional 6,587 shares during the period. DF Dent & Co. Inc. owned about 0.16% of SBA Communications worth $27,437,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SBAC. Creative Planning increased its stake in shares of SBA Communications by 40.7% during the second quarter. Creative Planning now owns 874 shares of the technology company’s stock valued at $118,000 after buying an additional 253 shares during the period. Acadian Asset Management LLC purchased a new position in shares of SBA Communications during the second quarter valued at $159,000. TD Asset Management Inc. increased its stake in shares of SBA Communications by 2.9% during the second quarter. TD Asset Management Inc. now owns 90,226 shares of the technology company’s stock valued at $12,171,000 after buying an additional 2,558 shares during the period. Pioneer Investment Management Inc. increased its stake in shares of SBA Communications by 25.5% during the second quarter. Pioneer Investment Management Inc. now owns 55,633 shares of the technology company’s stock valued at $7,505,000 after buying an additional 11,320 shares during the period. Finally, Global X Management Co. LLC increased its stake in shares of SBA Communications by 17.0% during the second quarter. Global X Management Co. LLC now owns 2,172 shares of the technology company’s stock valued at $293,000 after buying an additional 316 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

SBA Communications Co. (SBAC) opened at $166.61 on Tuesday. SBA Communications Co. has a 52 week low of $97.82 and a 52 week high of $173.97. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The stock has a market capitalization of $19,420.00, a PE ratio of 206.49 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $1.50. SBA Communications had a negative return on equity of 4.71% and a net margin of 5.95%. The company had revenue of $433.90 million for the quarter, compared to analyst estimates of $431.42 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. equities research analysts expect that SBA Communications Co. will post 0.96 EPS for the current fiscal year.

SBAC has been the topic of several research reports. Cowen restated a “buy” rating and set a $170.00 price target (up previously from $155.00) on shares of SBA Communications in a research note on Tuesday, December 5th. Royal Bank of Canada restated a “buy” rating and set a $200.00 price target on shares of SBA Communications in a research note on Thursday, November 30th. KeyCorp restated a “buy” rating and set a $179.00 price target (up previously from $170.00) on shares of SBA Communications in a research note on Wednesday, November 1st. UBS initiated coverage on SBA Communications in a research note on Wednesday, October 18th. They set a “buy” rating and a $176.00 price target on the stock. Finally, Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating in a research note on Monday, October 16th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. SBA Communications presently has an average rating of “Buy” and a consensus price target of $159.40.

In other SBA Communications news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total value of $338,850.49. Following the transaction, the director now owns 11,999 shares in the company, valued at $2,033,950.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by insiders.

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About SBA Communications

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.

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

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