Stevens Capital Management LP Has $1.01 Million Stock Position in SBA Communications Corporation $SBAC

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. CVA Family Office LLC increased its holdings in shares of SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after buying an additional 67 shares in the last quarter. Quent Capital LLC acquired a new stake in SBA Communications during the 3rd quarter valued at $27,000. Geneos Wealth Management Inc. raised its position in 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 purchasing an additional 84 shares during the last quarter. SJS Investment Consulting Inc. bought a new position in SBA Communications in the 3rd quarter valued at $48,000. Finally, Center for Financial Planning Inc. acquired a new position in SBA Communications in the third quarter worth $50,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $199.54 on Friday. SBA Communications Corporation has a one year low of $177.49 and a one year high of $245.16. The company has a 50 day moving average of $189.91 and a 200-day moving average of $196.04. The stock has a market cap of $21.26 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 1.88 and a beta of 0.87.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SBAC. TD Cowen reaffirmed a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. Wells Fargo & Company dropped their target price on shares of 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. Royal Bank Of Canada reduced their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Barclays lowered their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a report on Monday, December 1st. Finally, UBS Group reduced their price objective on SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.18.

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.