SBA Communications Co. (SBAC) Holdings Trimmed by Wells Fargo & Company MN
Wells Fargo & Company MN trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,142,812 shares of the technology company’s stock after selling 54,304 shares during the period. Wells Fargo & Company MN owned approximately 0.96% of SBA Communications worth $164,622,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its stake in shares of SBA Communications by 18.8% during the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after buying an additional 120 shares during the period. Creative Planning lifted 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 worth $118,000 after buying an additional 253 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of SBA Communications during the second quarter worth $159,000. Advisor Group Inc. lifted its stake in shares of SBA Communications by 9.7% during the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after buying an additional 114 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of SBA Communications by 9.5% during the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after buying an additional 129 shares during the period. Institutional investors own 96.14% of the company’s stock.
In related news, Director George R. Krouse, Jr. sold 1,999 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the completion of the transaction, the director now directly 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 at the SEC website. Insiders own 2.10% of the company’s stock.
SBA Communications Co. (NASDAQ SBAC) opened at $169.16 on Friday. The stock has a market cap of $19,952.75, a price-to-earnings ratio of 212.19 and a beta of 0.77. SBA Communications Co. has a 1 year low of $95.77 and a 1 year high of $173.97. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.
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 analysts’ consensus estimates of $0.25 by $1.50. The company had revenue of $433.90 million during the quarter, compared to the consensus estimate of $431.42 million. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. equities analysts anticipate that SBA Communications Co. will post 0.96 EPS for the current fiscal year.
Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $200.00 price objective on shares of SBA Communications in a research note on Thursday. BidaskClub upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. KeyCorp reiterated an “overweight” rating and set a $192.00 price objective (up from $179.00) on shares of SBA Communications in a research note on Monday, November 27th. Zacks Investment Research downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Cowen reiterated a “buy” rating and set a $147.00 price objective on shares of SBA Communications in a research note on Tuesday, October 17th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $157.87.
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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.
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