Daiwa Securities Group Inc. boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 42.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,350 shares of the technology company’s stock after buying an additional 1,600 shares during the period. Daiwa Securities Group Inc.’s holdings in SBA Communications Corporation were worth $722,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Creative Planning raised its position in shares of SBA Communications Corporation by 40.7% in 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 in the last quarter. Acadian Asset Management LLC purchased a new position in shares of SBA Communications Corporation during the second quarter valued at approximately $159,000. Van ECK Associates Corp raised its position in shares of SBA Communications Corporation by 17.0% in the first quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock valued at $146,000 after buying an additional 177 shares in the last quarter. Toronto Dominion Bank raised its position in shares of SBA Communications Corporation by 25.7% in the first quarter. Toronto Dominion Bank now owns 1,358 shares of the technology company’s stock valued at $163,000 after buying an additional 278 shares in the last quarter. Finally, 1ST Source Bank purchased a new position in shares of SBA Communications Corporation during the second quarter valued at approximately $201,000. 96.48% of the stock is owned by institutional investors and hedge funds.

Shares of SBA Communications Corporation (NASDAQ SBAC) opened at 138.27 on Friday. The company has a 50-day moving average price of $136.32 and a 200 day moving average price of $125.22. SBA Communications Corporation has a 12-month low of $95.66 and a 12-month high of $141.59. The company has a market capitalization of $16.64 billion, a P/E ratio of 475.15 and a beta of 0.73.

SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $427.30 million during the quarter, compared to analyst estimates of $426.10 million. SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 earnings per share. On average, equities analysts anticipate that SBA Communications Corporation will post $0.97 earnings per share for the current fiscal year.

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Several brokerages have commented on SBAC. Jefferies Group LLC raised their price objective on SBA Communications Corporation from $150.00 to $159.00 and gave the company a “buy” rating in a research report on Tuesday, August 1st. Barclays PLC reissued an “overweight” rating and set a $148.00 price objective on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Zacks Investment Research lowered SBA Communications Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. BidaskClub raised SBA Communications Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $160.00 price objective (up previously from $148.00) on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $141.57.

In other news, Director Brian C. Carr sold 3,475 shares of SBA Communications Corporation stock in a transaction that occurred 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 $404,379.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark R. Ciarfella sold 9,655 shares of SBA Communications Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $140.74, for a total value of $1,358,844.70. Following the completion of the sale, the executive vice president now directly owns 21,403 shares in the company, valued at $3,012,258.22. The disclosure for this sale can be found here. Insiders sold 167,179 shares of company stock worth $22,588,671 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

SBA Communications Corporation Company Profile

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

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