Advisor Group Holdings Inc. Has $13.29 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Advisor Group Holdings Inc. decreased its holdings in SBA Communications Co. (NASDAQ:SBACGet Rating) by 6.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,554 shares of the technology company’s stock after selling 2,595 shares during the quarter. Advisor Group Holdings Inc.’s holdings in SBA Communications were worth $13,293,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. PFG Advisors grew its holdings in shares of SBA Communications by 1.2% in the 1st quarter. PFG Advisors now owns 2,621 shares of the technology company’s stock worth $902,000 after purchasing an additional 30 shares during the last quarter. Signaturefd LLC grew its holdings in shares of SBA Communications by 6.0% in the 1st quarter. Signaturefd LLC now owns 546 shares of the technology company’s stock worth $188,000 after purchasing an additional 31 shares during the last quarter. Hotaling Investment Management LLC grew its holdings in shares of SBA Communications by 4.9% in the 1st quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company’s stock worth $244,000 after purchasing an additional 33 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in SBA Communications by 1.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,870 shares of the technology company’s stock worth $1,116,000 after acquiring an additional 34 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in SBA Communications by 4.3% during the 1st quarter. Clearstead Advisors LLC now owns 818 shares of the technology company’s stock worth $281,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 95.41% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $332.85 on Tuesday. The company has a market capitalization of $35.89 billion, a price-to-earnings ratio of 84.05 and a beta of 0.43. The firm’s 50 day simple moving average is $323.63 and its 200 day simple moving average is $328.14. SBA Communications Co. has a fifty-two week low of $286.41 and a fifty-two week high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last announced its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $2.75 by ($2.11). The firm had revenue of $652.01 million during the quarter, compared to analyst estimates of $626.30 million. SBA Communications had a net margin of 18.40% and a negative return on equity of 8.54%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.64 earnings per share. Equities research analysts expect that SBA Communications Co. will post 11.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Credit Suisse Group increased their price objective on shares of SBA Communications from $383.00 to $405.00 and gave the stock an “outperform” rating in a report on Tuesday, April 26th. KeyCorp decreased their price objective on shares of SBA Communications from $393.00 to $367.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. The Goldman Sachs Group decreased their price objective on shares of SBA Communications from $424.00 to $381.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Wells Fargo & Company decreased their price objective on shares of SBA Communications from $390.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Finally, Moffett Nathanson lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $393.00 to $380.00 in a report on Monday, April 11th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $383.06.

Insider Activity at SBA Communications

In related news, CEO Jeffrey Stoops sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $344.07, for a total value of $10,322,100.00. Following the sale, the chief executive officer now directly owns 83,668 shares in the company, valued at approximately $28,787,648.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SBA Communications news, EVP Mark R. Ciarfella sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $338.05, for a total transaction of $338,050.00. Following the sale, the executive vice president now directly owns 23,884 shares in the company, valued at approximately $8,073,986.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Stoops sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total transaction of $10,322,100.00. Following the sale, the chief executive officer now owns 83,668 shares in the company, valued at $28,787,648.76. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

SBA Communications Profile

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

Featured Stories

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.