Strategy Asset Managers LLC Has $2.70 Million Position in SBA Communications Co. (SBAC)

Share on StockTwits

Strategy Asset Managers LLC trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 15.1% in the 1st quarter, HoldingsChannel reports. The fund owned 13,496 shares of the technology company’s stock after selling 2,400 shares during the quarter. Strategy Asset Managers LLC’s holdings in SBA Communications were worth $2,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SBAC. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of SBA Communications by 5.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 404,437 shares of the technology company’s stock valued at $80,750,000 after acquiring an additional 21,928 shares during the last quarter. Sustainable Insight Capital Management LLC bought a new position in shares of SBA Communications during the 1st quarter valued at approximately $1,897,000. ETF Managers Group LLC boosted its position in shares of SBA Communications by 10.1% during the 1st quarter. ETF Managers Group LLC now owns 836 shares of the technology company’s stock valued at $167,000 after acquiring an additional 77 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of SBA Communications by 0.5% during the 1st quarter. Mason Street Advisors LLC now owns 16,062 shares of the technology company’s stock valued at $3,207,000 after acquiring an additional 85 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of SBA Communications by 6.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,582 shares of the technology company’s stock valued at $1,314,000 after acquiring an additional 400 shares during the last quarter. 94.69% of the stock is owned by institutional investors.

A number of research analysts have recently commented on the company. Morgan Stanley increased their target price on SBA Communications from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Monday. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 9th. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Raymond James downgraded SBA Communications from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, KeyCorp increased their target price on SBA Communications from $195.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $197.56.

In related news, Director Brian C. Carr sold 700 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $206.50, for a total value of $144,550.00. Following the completion of the sale, the director now directly owns 2,590 shares in the company, valued at $534,835. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark R. Ciarfella sold 6,759 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $205.50, for a total value of $1,388,974.50. Following the completion of the sale, the executive vice president now owns 72,880 shares of the company’s stock, valued at $14,976,840. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 255,916 shares of company stock valued at $47,405,473. 2.50% of the stock is owned by corporate insiders.

SBAC traded up $2.83 during trading on Tuesday, reaching $206.06. The company had a trading volume of 273,820 shares, compared to its average volume of 668,777. The company has a market cap of $23.64 billion, a PE ratio of 27.11, a P/E/G ratio of 2.71 and a beta of 0.82. SBA Communications Co. has a 52 week low of $146.13 and a 52 week high of $214.93.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($1.66). The company had revenue of $493.29 million during the quarter, compared to the consensus estimate of $481.06 million. SBA Communications had a negative return on equity of 1.44% and a net margin of 2.20%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.85 earnings per share. On average, sell-side analysts anticipate that SBA Communications Co. will post 7.75 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Strategy Asset Managers LLC Has $2.70 Million Position in SBA Communications Co. (SBAC)” was first published by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this piece can be read at https://www.tickerreport.com/banking-finance/4348474/strategy-asset-managers-llc-has-2-70-million-position-in-sba-communications-co-sbac.html.

SBA Communications Company Profile

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.

Read More: What is the 52-week high/low?

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Co. (NASDAQ:SBAC).

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

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

China Shenhua Energy –  to Issue $0.42 Annual Dividend
China Shenhua Energy – to Issue $0.42 Annual Dividend
Wall Financial Co.  Plans Dividend Increase – $2.00 Per Share
Wall Financial Co. Plans Dividend Increase – $2.00 Per Share
Guaranty Bancshares, Inc.  Declares Quarterly Dividend of $0.17
Guaranty Bancshares, Inc. Declares Quarterly Dividend of $0.17
Bancolombia SA  To Go Ex-Dividend on June 26th
Bancolombia SA To Go Ex-Dividend on June 26th
Vail Resorts, Inc.  Announces $1.76 Quarterly Dividend
Vail Resorts, Inc. Announces $1.76 Quarterly Dividend
Dynex Capital Inc Announces Monthly Dividend of $0.18
Dynex Capital Inc Announces Monthly Dividend of $0.18


© 2006-2019 Ticker Report