Stifel Financial Corp boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 13.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,501 shares of the technology company’s stock after buying an additional 2,358 shares during the quarter. Stifel Financial Corp’s holdings in SBA Communications were worth $3,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in SBAC. Renaissance Technologies LLC increased its position in SBA Communications by 156.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,224,149 shares of the technology company’s stock worth $199,977,000 after buying an additional 745,900 shares during the last quarter. Goldman Sachs Group Inc. increased its position in SBA Communications by 26.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,582,045 shares of the technology company’s stock worth $421,803,000 after buying an additional 545,374 shares during the last quarter. Two Sigma Advisers LP increased its position in SBA Communications by 289.8% in the fourth quarter. Two Sigma Advisers LP now owns 513,833 shares of the technology company’s stock worth $83,940,000 after buying an additional 382,026 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in SBA Communications in the fourth quarter worth $54,628,000. Finally, Rivulet Capital LLC purchased a new stake in SBA Communications in the fourth quarter worth $51,801,000. 94.04% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on SBAC shares. Guggenheim set a $190.00 target price on SBA Communications and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Cowen reissued a “buy” rating on shares of SBA Communications in a research report on Tuesday, February 27th. SunTrust Banks reaffirmed a “buy” rating on shares of SBA Communications in a report on Tuesday, February 27th. KeyCorp set a $188.00 price target on SBA Communications and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, BidaskClub raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $175.54.
SBA Communications stock opened at $157.00 on Monday. SBA Communications Co. has a one year low of $130.74 and a one year high of $177.67. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of -3.62.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, April 30th. The technology company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.07. The firm had revenue of $458.30 million during the quarter, compared to analyst estimates of $453.50 million. SBA Communications had a negative return on equity of 4.79% and a net margin of 5.54%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the company earned $1.69 earnings per share. equities analysts anticipate that SBA Communications Co. will post 0.92 EPS for the current fiscal year.
SBA Communications announced that its board has initiated a stock buyback plan on Monday, February 26th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the technology company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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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