Great West Life Assurance Co. Can Decreases Stake in SBA Communications Co. (SBAC)

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Great West Life Assurance Co. Can lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 117,266 shares of the technology company’s stock after selling 900 shares during the quarter. Great West Life Assurance Co. Can’s holdings in SBA Communications were worth $23,359,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Zeke Capital Advisors LLC grew its holdings in shares of SBA Communications by 0.6% during the 1st quarter. Zeke Capital Advisors LLC now owns 9,976 shares of the technology company’s stock worth $1,992,000 after purchasing an additional 56 shares during the period. Parallel Advisors LLC grew its holdings in shares of SBA Communications by 27.0% during the 1st quarter. Parallel Advisors LLC now owns 268 shares of the technology company’s stock worth $53,000 after purchasing an additional 57 shares during the period. CWM LLC grew its holdings in shares of SBA Communications by 31.4% during the 1st quarter. CWM LLC now owns 243 shares of the technology company’s stock worth $49,000 after purchasing an additional 58 shares during the period. Suntrust Banks Inc. grew its holdings in shares of SBA Communications by 4.1% during the 4th quarter. Suntrust Banks Inc. now owns 1,493 shares of the technology company’s stock worth $242,000 after purchasing an additional 59 shares during the period. Finally, Creative Planning grew its holdings in shares of SBA Communications by 3.0% during the 4th quarter. Creative Planning now owns 2,106 shares of the technology company’s stock worth $341,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 94.95% of the company’s stock.

In other SBA Communications news, Director Brian C. Carr sold 700 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 2,590 shares of the company’s stock, valued at approximately $534,835. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Brian D. Lazarus sold 20,561 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $187.51, for a total value of $3,855,393.11. Following the completion of the transaction, the senior vice president now directly owns 36,525 shares in the company, valued at $6,848,802.75. The disclosure for this sale can be found here. In 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 company insiders.

A number of brokerages have recently issued reports on SBAC. Morgan Stanley boosted their target price on SBA Communications from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 9th. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Raymond James cut SBA Communications from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, KeyCorp upped their price target on SBA Communications from $195.00 to $215.00 and gave the stock an “overweight” rating in a 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 issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $197.56.

NASDAQ SBAC opened at $208.74 on Friday. The company has a market capitalization of $23.64 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.65 and a beta of 0.82. SBA Communications Co. has a fifty-two week low of $146.13 and a fifty-two week high of $214.93.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, April 29th. The technology company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($1.66). The company had revenue of $493.29 million during the quarter, compared to analysts’ expectations 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 revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.85 EPS. As a group, equities analysts forecast that SBA Communications Co. will post 7.75 earnings per share for the current year.

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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.

Further Reading: Municipal Bonds

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

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