Garrison Point Advisors LLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,365 shares of the technology company’s stock after selling 40 shares during the period. Garrison Point Advisors LLC’s holdings in SBA Communications were worth $329,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Usca Ria LLC acquired a new stake in SBA Communications during the third quarter worth about $25,000. Atlas Capital Advisors LLC acquired a new position in shares of SBA Communications in the third quarter worth about $36,000. Quest Capital Management Inc. ADV purchased a new stake in shares of SBA Communications during the 3rd quarter worth about $36,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of SBA Communications during the 3rd quarter worth about $42,000. Finally, CSat Investment Advisory L.P. grew its position in shares of SBA Communications by 194.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 227 shares of the technology company’s stock valued at $51,000 after acquiring an additional 150 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

NASDAQ SBAC traded down $2.17 during mid-day trading on Friday, hitting $252.84. The stock had a trading volume of 14,831 shares, compared to its average volume of 508,208. The firm’s 50 day moving average is $241.58 and its 200 day moving average is $243.06. SBA Communications Co. has a twelve month low of $173.41 and a twelve month high of $270.42. The stock has a market capitalization of $28.44 billion, a price-to-earnings ratio of 210.86, a PEG ratio of 2.86 and a beta of 0.60.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($1.78). The business had revenue of $486.60 million for the quarter, compared to analyst estimates of $497.48 million. SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $1.92 EPS. On average, sell-side analysts anticipate that SBA Communications Co. will post 7.82 earnings per share for the current year.

In related news, Director Mary S. Chan sold 4,207 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $250.00, for a total transaction of $1,051,750.00. Following the transaction, the director now directly owns 4,290 shares in the company, valued at $1,072,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

SBAC has been the topic of a number of recent analyst reports. TheStreet downgraded SBA Communications from a “b-” rating to a “c” rating in a research report on Monday, October 28th. Zacks Investment Research raised SBA Communications from a “sell” rating to a “hold” rating and set a $253.00 target price for the company in a research note on Saturday, November 2nd. BidaskClub upgraded SBA Communications from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. ValuEngine cut shares of SBA Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Goldman Sachs Group upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $214.00 to $280.00 in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $251.33.

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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