Fairview Capital Investment Management LLC cut its stake in SBA Communications Co. (NASDAQ:SBAC) by 70.5% during the first quarter, Holdings Channel reports. The fund owned 54,990 shares of the technology company’s stock after selling 131,474 shares during the quarter. Fairview Capital Investment Management LLC’s holdings in SBA Communications were worth $10,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc boosted its stake in SBA Communications by 2.1% during the third quarter. Vanguard Group Inc now owns 18,461,664 shares of the technology company’s stock worth $2,965,496,000 after buying an additional 380,936 shares during the period. Dupont Capital Management Corp lifted its position in shares of SBA Communications by 34.2% during the fourth quarter. Dupont Capital Management Corp now owns 1,647 shares of the technology company’s stock worth $267,000 after purchasing an additional 420 shares during the last quarter. Creative Planning lifted its position in shares of SBA Communications by 3.0% during the fourth quarter. Creative Planning now owns 2,106 shares of the technology company’s stock worth $341,000 after purchasing an additional 62 shares during the last quarter. Chicago Equity Partners LLC lifted its position in shares of SBA Communications by 73.7% during the fourth quarter. Chicago Equity Partners LLC now owns 3,935 shares of the technology company’s stock worth $637,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. bought a new stake in shares of SBA Communications during the fourth quarter worth $2,057,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of SBAC stock traded up $2.00 on Friday, hitting $226.50. The stock had a trading volume of 787,347 shares, compared to its average volume of 685,408. The company has a market capitalization of $25.65 billion, a P/E ratio of 29.80, a PEG ratio of 2.92 and a beta of 0.68. SBA Communications Co. has a one year low of $146.13 and a one year high of $227.98.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($1.66). The firm had revenue of $493.29 million during the quarter, compared to the consensus estimate of $481.06 million. SBA Communications had a net margin of 2.20% and a negative return on equity of 1.44%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.85 earnings per share. On average, analysts predict that SBA Communications Co. will post 7.75 EPS for the current year.

Several analysts have recently weighed in on SBAC shares. UBS Group downgraded SBA Communications from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $209.00 to $240.00 in a research report on Friday, June 7th. Morgan Stanley lifted their target price on SBA Communications from $190.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, March 11th. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 10th. Guggenheim downgraded SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 target price for the company. in a research report on Friday, February 22nd. Finally, Bank of America lifted their target price on SBA Communications from $189.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $204.91.

In related news, CEO Jeffrey Stoops sold 37,847 shares of SBA Communications stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $218.87, for a total value of $8,283,572.89. Following the completion of the sale, the chief executive officer now directly owns 255,141 shares in the company, valued at $55,842,710.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian C. Carr sold 700 shares of SBA Communications stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $206.50, for a total value of $144,550.00. Following the completion of the sale, the director now owns 2,590 shares of the company’s stock, valued at $534,835. The disclosure for this sale can be found here. Insiders sold 67,978 shares of company stock valued at $14,787,645 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

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About SBA Communications

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. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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

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