Stevens Capital Management LP Buys 3,621 Shares of SBA Communications Corporation $SBAC

Stevens Capital Management LP grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 225.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,227 shares of the technology company’s stock after buying an additional 3,621 shares during the period. Stevens Capital Management LP’s holdings in SBA Communications were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp boosted its stake in SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after acquiring an additional 551 shares during the last quarter. Empowered Funds LLC raised its holdings in SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock worth $449,000 after purchasing an additional 229 shares during the period. Focus Partners Wealth boosted its position in shares of SBA Communications by 9.0% during the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after purchasing an additional 266 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in shares of SBA Communications by 42.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 15,561 shares of the technology company’s stock valued at $3,654,000 after buying an additional 4,606 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on SBAC shares. Royal Bank Of Canada dropped their price objective on SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. UBS Group dropped their price target on SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. TD Cowen reiterated a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. Wells Fargo & Company lowered their target price on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 16th. Finally, BMO Capital Markets cut their price target on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.18.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $199.54 on Friday. The firm has a market cap of $21.26 billion, a PE ratio of 26.02, a P/E/G ratio of 1.88 and a beta of 0.87. The business’s 50 day simple moving average is $189.91 and its 200 day simple moving average is $196.04. SBA Communications Corporation has a 52-week low of $177.49 and a 52-week high of $245.16.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.