Traders Sell SBA Communications (SBAC) on Strength (SBAC)

Traders sold shares of SBA Communications Co. (NASDAQ:SBAC) on strength during trading on Thursday. $47.27 million flowed into the stock on the tick-up and $62.19 million flowed out of the stock on the tick-down, for a money net flow of $14.92 million out of the stock. Of all companies tracked, SBA Communications had the 0th highest net out-flow for the day. SBA Communications traded up $2.32 for the day and closed at $169.41

A number of equities research analysts have weighed in on SBAC shares. BidaskClub upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. Barclays restated a “buy” rating and set a $178.00 price objective on shares of SBA Communications in a research note on Friday, January 19th. Guggenheim set a $172.00 price objective on SBA Communications and gave the company a “buy” rating in a research note on Wednesday, January 17th. Cowen restated a “buy” rating and set a $170.00 price objective (up previously from $155.00) on shares of SBA Communications in a research note on Tuesday, December 5th. Finally, Royal Bank of Canada restated a “buy” rating and set a $200.00 price objective on shares of SBA Communications in a research note on Thursday, November 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. SBA Communications has an average rating of “Buy” and an average target price of $172.50.

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The company has a market cap of $19,737.45, a PE ratio of 196.36, a P/E/G ratio of 17.79 and a beta of 0.92. The company has a debt-to-equity ratio of -3.57, a current ratio of 0.93 and a quick ratio of 0.93.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, February 26th. The technology company reported $1.78 EPS for the quarter, topping the consensus estimate of $0.18 by $1.60. The company had revenue of $443.10 million during the quarter, compared to analyst estimates of $437.01 million. SBA Communications had a negative return on equity of 5.43% and a net margin of 6.00%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.04 EPS. analysts predict that SBA Communications Co. will post 0.95 earnings per share for the current year.

SBA Communications declared that its Board of Directors has approved a stock repurchase program on Monday, February 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other news, Director Duncan Cocroft bought 500 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was bought at an average price of $167.29 per share, for a total transaction of $83,645.00. Following the transaction, the director now owns 87,966 shares in the company, valued at $14,715,832.14. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.10% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of SBA Communications by 26.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,582,045 shares of the technology company’s stock worth $421,803,000 after purchasing an additional 545,374 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of SBA Communications by 15.2% in the 4th quarter. Wells Fargo & Company MN now owns 1,315,958 shares of the technology company’s stock worth $214,975,000 after purchasing an additional 173,146 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of SBA Communications by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,310,951 shares of the technology company’s stock worth $213,733,000 after purchasing an additional 26,913 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of SBA Communications by 156.0% in the 4th quarter. Renaissance Technologies LLC now owns 1,224,149 shares of the technology company’s stock worth $199,977,000 after purchasing an additional 745,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of SBA Communications by 70.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,166,994 shares of the technology company’s stock worth $168,105,000 after purchasing an additional 480,852 shares during the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

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SBA Communications 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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