Massey Quick & Co. LLC grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,451 shares of the technology company’s stock after buying an additional 854 shares during the quarter. SBA Communications Corporation comprises 6.1% of Massey Quick & Co. LLC’s holdings, making the stock its 3rd biggest position. Massey Quick & Co. LLC owned about 0.07% of SBA Communications Corporation worth $10,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Tealwood Asset Management Inc. raised its position in shares of SBA Communications Corporation by 0.3% during the 2nd quarter. Tealwood Asset Management Inc. now owns 12,115 shares of the technology company’s stock worth $1,634,000 after buying an additional 35 shares in the last quarter. Cadence Capital Management LLC raised its position in shares of SBA Communications Corporation by 0.8% during the 2nd quarter. Cadence Capital Management LLC now owns 4,860 shares of the technology company’s stock worth $656,000 after buying an additional 40 shares in the last quarter. Global X Management Co. LLC raised its position in shares of SBA Communications Corporation by 3.9% during the 1st quarter. Global X Management Co. LLC now owns 1,856 shares of the technology company’s stock worth $223,000 after buying an additional 69 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of SBA Communications Corporation by 1.5% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,790 shares of the technology company’s stock worth $577,000 after buying an additional 70 shares in the last quarter. Finally, Advisor Group Inc. raised its position in shares of SBA Communications Corporation by 9.7% during the 2nd quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after buying an additional 114 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.

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SBA Communications Corporation (SBAC) traded down 1.65% on Friday, hitting $142.62. 1,529,418 shares of the stock traded hands. The stock has a market capitalization of $17.17 billion, a P/E ratio of 490.10 and a beta of 0.71. The company’s 50 day moving average price is $145.77 and its 200-day moving average price is $132.98. SBA Communications Corporation has a 12-month low of $95.66 and a 12-month high of $154.71.

SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 2.19% and a negative return on equity of 2.64%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. Analysts predict that SBA Communications Corporation will post $0.94 EPS for the current year.

In related news, EVP Mark R. Ciarfella sold 9,655 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $140.74, for a total value of $1,358,844.70. Following the sale, the executive vice president now directly owns 21,403 shares in the company, valued at approximately $3,012,258.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian D. Lazarus sold 7,376 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the completion of the sale, the senior vice president now owns 17,525 shares in the company, valued at $2,660,119.75. The disclosure for this sale can be found here. Insiders sold a total of 18,674 shares of company stock worth $2,706,217 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

A number of analysts have commented on SBAC shares. Citigroup Inc. boosted their price target on shares of SBA Communications Corporation from $140.00 to $168.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 price target on the stock in a research report on Thursday, July 20th. Deutsche Bank AG restated a “hold” rating and set a $150.00 price target (up from $133.00) on shares of SBA Communications Corporation in a research report on Friday, July 14th. BidaskClub downgraded shares of SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $159.00 price target (up from $147.00) on shares of SBA Communications Corporation in a research report on Thursday, August 24th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $145.62.

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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