SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,716 shares of the technology company’s stock after acquiring an additional 327 shares during the quarter. Blue Trust Inc.’s holdings in SBA Communications were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

SBA Communications Stock Up 0.5 %

SBAC stock opened at $199.14 on Friday. The firm has a 50 day moving average of $208.34 and a two-hundred day moving average of $221.58. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The company has a market capitalization of $21.41 billion, a price-to-earnings ratio of 31.41, a P/E/G ratio of 0.70 and a beta of 0.69.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Wells Fargo & Company cut their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. KeyCorp raised their target price on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays reduced 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. Finally, JMP Securities assumed coverage on shares of SBA Communications in a research note on Monday. They issued an “outperform” rating and a $250.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

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.