Gamco Investors INC. ET AL cut its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,007 shares of the technology company’s stock after selling 35 shares during the period. Gamco Investors INC. ET AL’s holdings in SBA Communications Corporation were worth $541,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Capstone Asset Management Co. raised its stake in shares of SBA Communications Corporation by 26.0% in the first quarter. Capstone Asset Management Co. now owns 2,861 shares of the technology company’s stock valued at $344,000 after buying an additional 590 shares during the last quarter. Boston Advisors LLC purchased a new stake in shares of SBA Communications Corporation during the first quarter valued at approximately $201,000. ProShare Advisors LLC raised its stake in shares of SBA Communications Corporation by 286.8% in the first quarter. ProShare Advisors LLC now owns 132,699 shares of the technology company’s stock valued at $4,015,000 after buying an additional 98,396 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of SBA Communications Corporation by 6.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 9,243 shares of the technology company’s stock valued at $1,112,000 after buying an additional 535 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of SBA Communications Corporation by 7,053.6% in the first quarter. Canada Pension Plan Investment Board now owns 144,718 shares of the technology company’s stock valued at $17,420,000 after buying an additional 142,695 shares during the last quarter. Institutional investors own 92.36% of the company’s stock.

SBA Communications Corporation (NASDAQ:SBAC) opened at 153.04 on Thursday. SBA Communications Corporation has a 52-week low of $95.66 and a 52-week high of $153.16. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of 525.91 and a beta of 0.73. The firm has a 50-day moving average of $139.18 and a 200 day moving average of $128.10.

SBA Communications Corporation (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the 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 the consensus estimate of $426.10 million. During the same quarter in the previous year, the business posted $1.48 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that SBA Communications Corporation will post $0.94 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Gamco Investors INC. ET AL Has $541,000 Position in SBA Communications Corporation (SBAC)” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://www.watchlistnews.com/gamco-investors-inc-et-al-has-541000-position-in-sba-communications-corporation-sbac/1533252.html.

SBAC has been the topic of several analyst reports. Barclays PLC raised their price target on shares of SBA Communications Corporation from $136.00 to $137.00 and gave the company an “overweight” rating in a research note on Wednesday, May 3rd. BidaskClub lowered shares of SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 9th. Citigroup Inc. lowered shares of SBA Communications Corporation to an “outperform” rating and set a $153.00 price objective on the stock. in a research note on Monday, June 12th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of SBA Communications Corporation in a research note on Monday, June 12th. Finally, Zacks Investment Research upgraded shares of SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $155.00 price objective on the stock in a research note on Wednesday, July 5th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $144.43.

In other news, 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 value of $1,358,844.70. Following the completion of the sale, the executive vice president now owns 21,403 shares in the company, valued at approximately $3,012,258.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George R. Krouse, Jr. sold 187 shares of SBA Communications Corporation stock in a transaction on Monday, June 5th. The shares were sold at an average price of $138.43, for a total transaction of $25,886.41. Following the completion of the sale, the director now owns 10,896 shares of the company’s stock, valued at approximately $1,508,333.28. The disclosure for this sale can be found here. Insiders sold a total of 27,861 shares of company stock valued at $3,965,463 in the last quarter. 2.10% of the stock is currently 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.

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

Receive News & Ratings for SBA Communications Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.