Cambridge Investment Research Advisors Inc. Acquires 453 Shares of SBA Communications (SBAC)

Cambridge Investment Research Advisors Inc. lifted its holdings in SBA Communications (NASDAQ:SBAC) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,935 shares of the technology company’s stock after acquiring an additional 453 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in SBA Communications were worth $970,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of SBA Communications in the fourth quarter worth $108,000. Tower Research Capital LLC TRC increased its position in shares of SBA Communications by 168.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 809 shares of the technology company’s stock worth $132,000 after acquiring an additional 508 shares in the last quarter. MAI Capital Management acquired a new stake in shares of SBA Communications in the fourth quarter worth $204,000. Alps Advisors Inc. acquired a new stake in shares of SBA Communications in the fourth quarter worth $206,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of SBA Communications in the fourth quarter worth $206,000. 92.87% of the stock is owned by institutional investors.

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In related news, Director Duncan Cocroft acquired 500 shares of SBA Communications stock in a transaction on Monday, March 12th. The shares were purchased at an average cost of $167.29 per share, for a total transaction of $83,645.00. Following the purchase, the director now directly owns 87,966 shares of the company’s stock, valued at approximately $14,715,832.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Shares of SBAC stock opened at $169.73 on Friday. The firm has a market capitalization of $20,003.09, a PE ratio of 171.44, a PEG ratio of 18.03 and a beta of 0.86. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of -3.57. SBA Communications has a twelve month low of $119.53 and a twelve month high of $177.67.

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

SBA Communications declared that its board has approved a share buyback plan on Monday, February 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Several research firms have recently issued reports on SBAC. ValuEngine raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Morgan Stanley dropped their price objective on shares of SBA Communications from $190.00 to $182.00 and set an “overweight” rating for the company in a research report on Friday, March 16th. BidaskClub raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, March 16th. Barclays reissued a “buy” rating and issued a $178.00 price objective on shares of SBA Communications in a research report on Friday, January 19th. Finally, Deutsche Bank upped their target price on shares of SBA Communications from $164.00 to $170.00 and gave the company a “hold” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $172.50.

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About SBA Communications

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By ?Building Better Wireless,? SBA generates revenue from two primary businesses ? site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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