Mutual of America Capital Management LLC continued to hold its position in shares of SBA Communications Corporation (NASDAQ:SBAC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,797 shares of the technology company’s stock at the close of the 2nd quarter. Mutual of America Capital Management LLC’s holdings in SBA Communications Corporation were worth $647,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of SBAC. Creative Planning boosted its holdings in shares of SBA Communications Corporation by 40.7% during the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after purchasing an additional 253 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of SBA Communications Corporation during the 2nd quarter worth approximately $159,000. Van ECK Associates Corp boosted its holdings in shares of SBA Communications Corporation by 17.0% during the 1st quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock worth $146,000 after purchasing an additional 177 shares during the last quarter. 1ST Source Bank acquired a new position in shares of SBA Communications Corporation during the 2nd quarter worth approximately $201,000. Finally, Coastline Trust Co acquired a new position in shares of SBA Communications Corporation during the 2nd quarter worth approximately $202,000. Institutional investors own 92.35% of the company’s stock.
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Shares of SBA Communications Corporation (NASDAQ SBAC) opened at 148.42 on Wednesday. The stock has a market cap of $17.86 billion, a price-to-earnings ratio of 510.03 and a beta of 0.69. SBA Communications Corporation has a 52-week low of $95.66 and a 52-week high of $154.71. The stock’s 50 day moving average is $147.77 and its 200 day moving average is $136.05.
SBA Communications Corporation (NASDAQ:SBAC) last announced its 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). SBA Communications Corporation had a negative return on equity of 2.64% and a net margin of 2.19%. The firm had revenue of $427.30 million for the quarter, compared to analyst estimates of $426.10 million. During the same quarter last year, the business posted $1.48 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts expect that SBA Communications Corporation will post $0.94 earnings per share for the current fiscal year.
Several research analysts have recently weighed in on SBAC shares. Zacks Investment Research upgraded SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $155.00 target price on the stock in a report on Wednesday, July 5th. Deutsche Bank AG restated a “hold” rating and set a $150.00 target price (up from $133.00) on shares of SBA Communications Corporation in a report on Friday, July 14th. Jefferies Group LLC boosted their target price on SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus restated a “buy” rating and set a $160.00 target price (up from $148.00) on shares of SBA Communications Corporation in a report on Tuesday, August 1st. Finally, Barclays PLC restated an “overweight” rating and set a $148.00 target price on shares of SBA Communications Corporation in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $147.36.
In other SBA Communications Corporation news, Director George R. Krouse, Jr. sold 1,643 shares of SBA Communications Corporation stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $138.63, for a total value of $227,769.09. Following the transaction, the director now owns 11,643 shares in the company, valued at approximately $1,614,069.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 9,655 shares of SBA Communications Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the completion of the transaction, the executive vice president now owns 21,403 shares in the company, valued at approximately $3,012,258.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,674 shares of company stock worth $2,706,217. 2.40% of the stock is owned by company insiders.
About SBA Communications Corporation
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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