CHURCHILL MANAGEMENT Corp lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 8.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,569 shares of the technology company’s stock after purchasing an additional 2,409 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in SBA Communications were worth $5,232,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. lifted its position in shares of SBA Communications by 2.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 16,213 shares of the technology company’s stock worth $2,771,000 after purchasing an additional 321 shares in the last quarter. Atria Investments LLC increased its stake in shares of SBA Communications by 8.8% during the second quarter. Atria Investments LLC now owns 4,210 shares of the technology company’s stock worth $695,000 after buying an additional 340 shares during the period. Suntrust Banks Inc. increased its stake in shares of SBA Communications by 12.2% during the first quarter. Suntrust Banks Inc. now owns 3,537 shares of the technology company’s stock worth $603,000 after buying an additional 384 shares during the period. TD Asset Management Inc. increased its stake in shares of SBA Communications by 0.4% during the second quarter. TD Asset Management Inc. now owns 100,820 shares of the technology company’s stock worth $16,647,000 after buying an additional 391 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of SBA Communications by 3.5% during the second quarter. PNC Financial Services Group Inc. now owns 13,644 shares of the technology company’s stock worth $2,254,000 after buying an additional 460 shares during the period. 94.64% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently weighed in on SBAC shares. BidaskClub lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. ValuEngine upgraded shares of SBA Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Deutsche Bank upped their target price on shares of SBA Communications from $170.00 to $183.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Morgan Stanley cut their target price on shares of SBA Communications from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Thursday, August 16th. Finally, Zacks Investment Research upgraded shares of SBA Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $179.55.

In other SBA Communications news, CEO Jeffrey Stoops sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $154.16, for a total value of $6,166,400.00. Following the transaction, the chief executive officer now directly owns 268,756 shares in the company, valued at $41,431,424.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian C. Carr sold 800 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $155.00, for a total transaction of $124,000.00. Following the completion of the transaction, the director now owns 3,070 shares in the company, valued at $475,850. The disclosure for this sale can be found here. Insiders sold 80,805 shares of company stock worth $12,693,203 over the last quarter. 2.70% of the stock is currently owned by insiders.

Shares of SBA Communications stock opened at $152.82 on Friday. SBA Communications Co. has a 52 week low of $145.16 and a 52 week high of $177.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of -3.18.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 30th. The technology company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.68). The company had revenue of $456.30 million during the quarter, compared to analysts’ expectations of $457.43 million. SBA Communications had a net margin of 1.73% and a negative return on equity of 1.26%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 earnings per share. Research analysts predict that SBA Communications Co. will post 7.07 earnings per share for the current year.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses ? site leasing and site development services.

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

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