Investors purchased shares of SBA Communications Corp. (NASDAQ:SBAC) on weakness during trading on Tuesday. $55.23 million flowed into the stock on the tick-up and $37.08 million flowed out of the stock on the tick-down, for a money net flow of $18.15 million into the stock. Of all equities tracked, SBA Communications Corp. had the 16th highest net in-flow for the day. SBA Communications Corp. traded down ($0.52) for the day and closed at $112.78

A number of brokerages have commented on SBAC. Morgan Stanley restated a “buy” rating and set a $121.00 price target on shares of SBA Communications Corp. in a research note on Friday, April 29th. Zacks Investment Research lowered shares of SBA Communications Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Stifel Nicolaus boosted their price target on shares of SBA Communications Corp. from $112.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, May 3rd. Deutsche Bank AG reduced their target price on shares of SBA Communications Corp. from $106.00 to $102.00 and set a “hold” rating for the company in a research note on Friday, May 27th. Finally, JPMorgan Chase & Co. lowered shares of SBA Communications Corp. from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $120.00 to $115.00 in a research note on Tuesday, May 3rd. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $121.36.

The company’s 50 day moving average is $103.85 and its 200-day moving average is $99.42. The firm’s market cap is $14.16 billion.

SBA Communications Corp. (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, May 2nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $0.05 by $1.40. The firm had revenue of $399.80 million for the quarter. During the same period in the prior year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts anticipate that SBA Communications Corp. will post $0.85 EPS for the current year.

In related news, Director Duncan Cocroft purchased 1,000 shares of SBA Communications Corp. stock in a transaction dated Thursday, June 16th. The stock was purchased at an average cost of $100.16 per share, for a total transaction of $100,160.00. Following the completion of the acquisition, the director now directly owns 82,125 shares of the company’s stock, valued at $8,225,640. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Several institutional investors recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of SBA Communications Corp. by 24.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,018 shares of the company’s stock valued at $1,472,000 after buying an additional 2,770 shares during the last quarter. Gabelli Funds LLC bought a new position in shares of SBA Communications Corp. during the fourth quarter valued at $1,576,000. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in shares of SBA Communications Corp. by 6.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 16,009 shares of the company’s stock valued at $1,682,000 after buying an additional 946 shares during the last quarter. Miller Howard Investments Inc. NY bought a new position in shares of SBA Communications Corp. during the fourth quarter valued at $2,515,000. Finally, Gulf International Bank UK Ltd increased its position in shares of SBA Communications Corp. by 3.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 39,070 shares of the company’s stock valued at $4,105,000 after buying an additional 1,290 shares during the last quarter.

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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