The Manufacturers Life Insurance Company lifted its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,497 shares of the technology company’s stock after buying an additional 245 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in SBA Communications Corporation were worth $607,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. raised its holdings in shares of SBA Communications Corporation by 18.8% during the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after acquiring an additional 120 shares in the last quarter. Creative Planning raised its holdings in shares of SBA Communications Corporation by 40.7% during the second quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after acquiring an additional 253 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of SBA Communications Corporation during the second quarter worth $159,000. Advisor Group Inc. raised its holdings in shares of SBA Communications Corporation by 9.7% during the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after acquiring an additional 114 shares in the last quarter. Finally, 1ST Source Bank purchased a new stake in shares of SBA Communications Corporation during the second quarter worth $201,000. 96.63% of the stock is owned by institutional investors and hedge funds.

In other news, SVP Brian D. Lazarus sold 7,376 shares of SBA Communications Corporation stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $151.79, for a total value of $1,119,603.04. Following the transaction, the senior vice president now directly owns 17,525 shares in the company, valued at $2,660,119.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George R. Krouse, Jr. sold 1,999 shares of SBA Communications Corporation stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total value of $338,850.49. Following the completion of the transaction, the director now owns 11,999 shares in the company, valued at $2,033,950.49. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

SBA Communications Corporation (NASDAQ SBAC) opened at $167.83 on Wednesday. SBA Communications Corporation has a 1-year low of $95.76 and a 1-year high of $170.82. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63. The firm has a market capitalization of $19,474.36, a PE ratio of 207.10 and a beta of 0.75.

SBA Communications Corporation (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $1.50. The business had revenue of $433.90 million for the quarter, compared to analyst estimates of $431.42 million. SBA Communications Corporation had a negative return on equity of 4.71% and a net margin of 5.95%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) earnings per share. equities research analysts anticipate that SBA Communications Corporation will post 0.96 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.watchlistnews.com/sba-communications-corporation-sbac-stake-increased-by-the-manufacturers-life-insurance-company/1719131.html.

Several brokerages recently issued reports on SBAC. Morgan Stanley increased their price objective on SBA Communications Corporation from $169.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. KeyCorp reiterated a “buy” rating and set a $179.00 price objective (up from $170.00) on shares of SBA Communications Corporation in a report on Wednesday, November 1st. UBS AG began coverage on SBA Communications Corporation in a report on Wednesday, October 18th. They set a “buy” rating and a $176.00 price objective for the company. Cowen and Company reiterated a “buy” rating and set a $147.00 price objective on shares of SBA Communications Corporation in a report on Tuesday, October 17th. Finally, Zacks Investment Research upgraded SBA Communications Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 16th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. SBA Communications Corporation currently has a consensus rating of “Buy” and a consensus target price of $152.33.

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.

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Corporation (NASDAQ:SBAC).

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.