SBA Communications Co. (NASDAQ:SBAC) Stock Holdings Lifted by KBC Group NV

KBC Group NV lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 212.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 410,023 shares of the technology company’s stock after buying an additional 278,737 shares during the period. KBC Group NV owned 0.38% of SBA Communications worth $83,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of SBA Communications during the third quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $35,000. Friedenthal Financial acquired a new position in SBA Communications during the 3rd quarter valued at approximately $50,000. Farther Finance Advisors LLC grew its stake in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares during the last quarter. Finally, Eastern Bank acquired a new stake in SBA Communications in the third quarter worth $58,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Raymond James upped their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. KeyCorp lifted their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. Finally, TD Cowen lifted their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $252.46.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Trading Down 0.9 %

Shares of SBA Communications stock opened at $196.83 on Monday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The company’s 50-day moving average price is $209.38 and its two-hundred day moving average price is $221.65. The stock has a market cap of $21.16 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $3.34 earnings per share. On average, equities analysts predict that SBA Communications Co. will post 12.57 EPS for the current fiscal year.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.