Cambridge Investment Research Advisors Inc. lessened its stake in SBA Communications Corporation (NASDAQ:SBAC) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,482 shares of the technology company’s stock after selling 385 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in SBA Communications Corporation were worth $790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of SBA Communications Corporation by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 9,869,843 shares of the technology company’s stock valued at $1,331,442,000 after acquiring an additional 272,381 shares during the period. William Blair Investment Management LLC raised its stake in shares of SBA Communications Corporation by 8.7% in the 2nd quarter. William Blair Investment Management LLC now owns 2,682,091 shares of the technology company’s stock valued at $361,814,000 after acquiring an additional 215,709 shares during the period. Iridian Asset Management LLC CT raised its stake in shares of SBA Communications Corporation by 88.1% in the 2nd quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock valued at $356,298,000 after acquiring an additional 1,237,008 shares during the period. American Century Companies Inc. raised its stake in shares of SBA Communications Corporation by 14.4% in the 3rd quarter. American Century Companies Inc. now owns 2,552,824 shares of the technology company’s stock valued at $367,734,000 after acquiring an additional 322,085 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of SBA Communications Corporation by 11.6% in the 2nd quarter. Jennison Associates LLC now owns 2,150,624 shares of the technology company’s stock valued at $290,119,000 after acquiring an additional 223,805 shares during the period. Institutional investors own 96.63% of the company’s stock.

Shares of SBA Communications Corporation (SBAC) opened at $166.98 on Friday. SBA Communications Corporation has a one year low of $95.76 and a one year high of $170.82. The stock has a market cap of $19,627.16, a price-to-earnings ratio of 208.73 and a beta of 0.75. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63.

SBA Communications Corporation (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $433.90 million for the quarter, compared to the consensus estimate of $431.42 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. analysts expect that SBA Communications Corporation will post 0.96 earnings per share for the current fiscal year.

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A number of equities analysts have recently commented on SBAC shares. Jefferies Group LLC raised their target price on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. 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 research note on Tuesday, August 1st. Barclays PLC reissued an “overweight” rating and issued a $148.00 target price on shares of SBA Communications Corporation in a research note on Tuesday, August 1st. Royal Bank Of Canada reissued a “buy” rating on shares of SBA Communications Corporation in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of SBA Communications Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $152.33.

In related news, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications Corporation stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the sale, the director now owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.

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

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