1,587 Shares in SBA Communications Corporation (SBAC) Acquired by Checchi Capital Advisers LLC
Checchi Capital Advisers LLC bought a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,587 shares of the technology company’s stock, valued at approximately $229,000.
A number of other large investors have also bought and sold shares of the stock. American Century Companies Inc. increased its holdings in SBA Communications Corporation by 14.4% in the third quarter. American Century Companies Inc. now owns 2,552,824 shares of the technology company’s stock valued at $367,734,000 after buying an additional 322,085 shares during the last quarter. State of Tennessee Treasury Department purchased a new position in SBA Communications Corporation in the third quarter valued at $5,795,000. State of Wisconsin Investment Board increased its holdings in SBA Communications Corporation by 6.8% in the third quarter. State of Wisconsin Investment Board now owns 155,104 shares of the technology company’s stock valued at $22,343,000 after buying an additional 9,814 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in SBA Communications Corporation by 2.0% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 20,045 shares of the technology company’s stock valued at $2,887,000 after buying an additional 400 shares during the last quarter. Finally, Stevens Capital Management LP increased its holdings in SBA Communications Corporation by 4.6% in the third quarter. Stevens Capital Management LP now owns 41,496 shares of the technology company’s stock valued at $5,977,000 after buying an additional 1,820 shares during the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the company. UBS AG assumed coverage on SBA Communications Corporation in a report on Wednesday, October 18th. They issued a “buy” rating and a $176.00 target price on the stock. BidaskClub raised SBA Communications Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Cowen and Company reissued a “buy” rating and issued a $147.00 target price on shares of SBA Communications Corporation in a report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and issued a $160.00 target price (up previously from $148.00) on shares of SBA Communications Corporation in a report on Tuesday, August 1st. Finally, Jefferies Group LLC increased their target price on SBA Communications Corporation from $150.00 to $159.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $150.27.
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Shares of SBA Communications Corporation (SBAC) traded up $10.13 on Monday, hitting $164.66. 1,465,797 shares of the stock traded hands, compared to its average volume of 1,173,161. SBA Communications Corporation has a twelve month low of $95.66 and a twelve month high of $159.14. The firm has a market capitalization of $18,300.68, a P/E ratio of 193.16 and a beta of 0.75. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63.
SBA Communications Corporation (NASDAQ:SBAC) last announced its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.25 by $1.50. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The business had revenue of $433.90 million during the quarter, compared to the consensus estimate of $431.42 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. sell-side analysts forecast that SBA Communications Corporation will post 0.97 earnings per share for the current fiscal year.
In other news, SVP Brian D. Lazarus sold 7,376 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by corporate insiders.
SBA Communications Corporation 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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