Jacobs Levy Equity Management Inc. Acquires 12,076 Shares of SBA Communications Co. (NASDAQ:SBAC)

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Jacobs Levy Equity Management Inc. boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,439 shares of the technology company’s stock after purchasing an additional 12,076 shares during the quarter. SBA Communications makes up approximately 0.6% of Jacobs Levy Equity Management Inc.’s holdings, making the stock its 27th biggest position. Jacobs Levy Equity Management Inc. owned 0.18% of SBA Communications worth $44,617,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Advisory Services Network LLC raised its holdings in SBA Communications by 65.4% during the 2nd quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after buying an additional 51 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in shares of SBA Communications during the second quarter valued at $29,000. Certified Advisory Corp bought a new stake in SBA Communications during the second quarter valued at about $31,000. Berman Capital Advisors LLC boosted its position in SBA Communications by 103.9% during the second quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock valued at $34,000 after purchasing an additional 79 shares in the last quarter. Finally, Next Capital Management LLC bought a new stake in SBA Communications during the second quarter valued at about $43,000. Institutional investors and hedge funds own 93.35% of the company’s stock.

Shares of SBA Communications stock traded down $2.39 on Friday, reaching $243.52. 668,187 shares of the stock were exchanged, compared to its average volume of 601,336. SBA Communications Co. has a twelve month low of $146.13 and a twelve month high of $270.42. The firm has a market capitalization of $27.40 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 3.12 and a beta of 0.67. The business has a 50 day moving average price of $254.41 and a two-hundred day moving average price of $220.50.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, July 29th. The technology company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($1.58). SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The firm had revenue of $500.10 million for the quarter, compared to analyst estimates of $489.09 million. During the same period last year, the firm earned ($0.50) EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts predict that SBA Communications Co. will post 7.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, August 28th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.61%. The ex-dividend date is Tuesday, August 27th. SBA Communications’s dividend payout ratio is currently 19.47%.

Several equities research analysts have weighed in on the company. Morgan Stanley raised their price target on SBA Communications from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. New Street Research downgraded SBA Communications from a “buy” rating to a “neutral” rating and set a $236.00 price target for the company. in a report on Thursday, June 13th. Bank of America reissued a “neutral” rating and issued a $260.00 price target (up previously from $245.00) on shares of SBA Communications in a report on Wednesday, August 14th. KeyCorp lifted their target price on SBA Communications from $259.00 to $292.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Finally, Cowen lifted their target price on SBA Communications from $203.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $236.67.

In related news, Director George R. Krouse, Jr. sold 2,087 shares of SBA Communications stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $247.51, for a total transaction of $516,553.37. Following the completion of the transaction, the director now directly owns 10,950 shares in the company, valued at $2,710,234.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian D. Lazarus sold 1,466 shares of SBA Communications stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $261.00, for a total value of $382,626.00. Following the transaction, the chief accounting officer now owns 17,829 shares of the company’s stock, valued at $4,653,369. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,616 shares of company stock valued at $26,774,328. 2.50% of the stock is owned by company insiders.

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.

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

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