Mar Vista Investment Partners LLC held its stake in SBA Communications Corp. (NASDAQ:SBAC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,089 shares of the company’s stock at the end of the second quarter. Mar Vista Investment Partners LLC’s holdings in SBA Communications Corp. were worth $118,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of SBAC. Checchi Capital Advisers LLC raised its stake in SBA Communications Corp. by 4.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,793 shares of the company’s stock valued at $194,000 after buying an additional 82 shares during the period. Ariel Capital Advisors LLC purchased a new stake in SBA Communications Corp. during the second quarter valued at $202,000. Capstone Asset Management Co. raised its stake in SBA Communications Corp. by 0.9% in the second quarter. Capstone Asset Management Co. now owns 2,331 shares of the company’s stock valued at $252,000 after buying an additional 20 shares during the period. Atria Investments LLC purchased a new stake in SBA Communications Corp. during the second quarter valued at $271,000. Finally, Oakbrook Investments LLC purchased a new stake in SBA Communications Corp. during the second quarter valued at $278,000. Institutional investors own 95.54% of the company’s stock.
Shares of SBA Communications Corp. (NASDAQ:SBAC) traded down 2.37% on Wednesday, hitting $109.05. 961,730 shares of the stock were exchanged. SBA Communications Corp. has a 1-year low of $82.80 and a 1-year high of $121.45. The stock’s 50-day moving average is $112.72 and its 200-day moving average is $106.82. The stock’s market cap is $13.59 billion.
SBA Communications Corp. (NASDAQ:SBAC) last issued its earnings results on Thursday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.12. The business had revenue of $405.50 million for the quarter, compared to analyst estimates of $403.37 million. SBA Communications Corp. had a negative net margin of 2.41% and a negative return on equity of 3.93%. SBA Communications Corp.’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 earnings per share. Analysts forecast that SBA Communications Corp. will post $0.94 earnings per share for the current year.
Several research firms have weighed in on SBAC. Jefferies Group reiterated a “buy” rating on shares of SBA Communications Corp. in a report on Saturday, August 6th. Morgan Stanley restated an “overweight” rating and set a $132.00 price objective on shares of SBA Communications Corp. in a report on Friday, July 22nd. SunTrust Banks Inc. began coverage on shares of SBA Communications Corp. in a report on Monday, September 12th. They set a “buy” rating and a $129.00 price objective on the stock. Pacific Crest restated a “hold” rating on shares of SBA Communications Corp. in a report on Friday, July 29th. Finally, Citigroup Inc. restated a “buy” rating and set a $132.00 price objective (up from $112.00) on shares of SBA Communications Corp. in a report on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. SBA Communications Corp. presently has an average rating of “Buy” and a consensus target price of $123.07.
In related news, Director Duncan Cocroft bought 500 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average cost of $109.14 per share, with a total value of $54,570.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason V. Silberstein sold 22,192 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $115.83, for a total transaction of $2,570,499.36. Following the transaction, the executive vice president now directly owns 21,727 shares in the company, valued at $2,516,638.41. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.
About SBA Communications Corp.
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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