Allianz Asset Management GmbH lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,842 shares of the technology company’s stock after buying an additional 4,321 shares during the quarter. Allianz Asset Management GmbH owned about 0.06% of SBA Communications worth $12,226,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Westpac Banking Corp acquired a new position in SBA Communications in the fourth quarter valued at about $1,185,000. Amalgamated Bank raised its stake in SBA Communications by 9.3% during the fourth quarter. Amalgamated Bank now owns 15,813 shares of the technology company’s stock worth $2,583,000 after acquiring an additional 1,344 shares in the last quarter. Virtu Financial LLC raised its stake in SBA Communications by 137.1% during the fourth quarter. Virtu Financial LLC now owns 3,694 shares of the technology company’s stock worth $603,000 after acquiring an additional 2,136 shares in the last quarter. GSA Capital Partners LLP raised its stake in SBA Communications by 198.3% during the third quarter. GSA Capital Partners LLP now owns 5,530 shares of the technology company’s stock worth $797,000 after acquiring an additional 3,676 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in SBA Communications by 52.8% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 17,788 shares of the technology company’s stock worth $2,906,000 after acquiring an additional 6,149 shares in the last quarter. 92.87% of the stock is owned by institutional investors.
In other news, Director Duncan Cocroft purchased 500 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was bought at an average price of $167.29 per share, for a total transaction of $83,645.00. Following the purchase, the director now owns 87,966 shares of the company’s stock, valued at $14,715,832.14. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is currently owned by corporate insiders.
NASDAQ:SBAC traded down $1.80 during trading on Monday, reaching $169.12. The company’s stock had a trading volume of 972,367 shares, compared to its average volume of 1,163,380. The company has a market capitalization of $19,913.38, a PE ratio of 170.83, a price-to-earnings-growth ratio of 17.94 and a beta of 0.86. The company has a debt-to-equity ratio of -3.57, a current ratio of 0.93 and a quick ratio of 0.93. SBA Communications Co. has a 12 month low of $118.59 and a 12 month high of $177.67.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, February 26th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $1.60. The firm had revenue of $443.10 million during the quarter, compared to the consensus estimate of $437.01 million. SBA Communications had a negative return on equity of 5.43% and a net margin of 6.00%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. sell-side analysts anticipate that SBA Communications Co. will post 0.95 earnings per share for the current year.
SBA Communications declared that its Board of Directors has approved a stock repurchase program on Monday, February 26th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the technology company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
SBAC has been the topic of several research reports. Cowen restated a “buy” rating and set a $170.00 price target (up from $155.00) on shares of SBA Communications in a report on Tuesday, December 5th. BidaskClub cut SBA Communications from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Guggenheim set a $172.00 target price on SBA Communications and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays reiterated a “buy” rating and issued a $178.00 target price on shares of SBA Communications in a report on Friday, January 19th. Finally, Zacks Investment Research cut SBA Communications from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $172.50.
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About SBA Communications
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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