Gerber Kawasaki Wealth & Investment Management lessened its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,865 shares of the technology company’s stock after selling 160 shares during the quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in SBA Communications were worth $301,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in SBAC. CWM LLC lifted its position in SBA Communications by 49.2% in the fourth quarter. CWM LLC now owns 185 shares of the technology company’s stock valued at $30,000 after buying an additional 61 shares during the last quarter. Creative Planning lifted its position in SBA Communications by 3.0% in the fourth quarter. Creative Planning now owns 2,106 shares of the technology company’s stock valued at $341,000 after buying an additional 62 shares during the last quarter. Private Capital Group LLC increased its stake in SBA Communications by 38.7% during the fourth quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock worth $37,000 after purchasing an additional 63 shares during the period. Gateway Investment Advisers LLC increased its stake in SBA Communications by 1.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 5,752 shares of the technology company’s stock worth $931,000 after purchasing an additional 81 shares during the period. Finally, First Bank & Trust increased its stake in SBA Communications by 1.8% during the fourth quarter. First Bank & Trust now owns 5,361 shares of the technology company’s stock worth $868,000 after purchasing an additional 93 shares during the period. 93.66% of the stock is currently owned by institutional investors.
SBA Communications stock traded up $1.51 during mid-day trading on Friday, hitting $190.95. The company had a trading volume of 1,101,066 shares, compared to its average volume of 669,949. The firm has a market capitalization of $21.50 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.39 and a beta of 0.82. SBA Communications Co. has a 1 year low of $146.13 and a 1 year high of $191.27.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Thursday, February 21st. The technology company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by ($1.33). The firm had revenue of $483.85 million during the quarter, compared to analyst estimates of $472.87 million. SBA Communications had a net margin of 2.54% and a negative return on equity of 1.71%. SBA Communications’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 earnings per share. As a group, sell-side analysts predict that SBA Communications Co. will post 7.82 earnings per share for the current year.
In related news, Director Duncan Cocroft sold 1,643 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $181.84, for a total transaction of $298,763.12. Following the completion of the sale, the director now directly owns 77,385 shares of the company’s stock, valued at $14,071,688.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kurt L. Bagwell sold 92,154 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $181.89, for a total value of $16,761,891.06. Following the sale, the executive vice president now directly owns 82,878 shares of the company’s stock, valued at $15,074,679.42. The disclosure for this sale can be found here. Insiders sold 194,749 shares of company stock valued at $35,604,129 over the last three months. Corporate insiders own 2.70% of the company’s stock.
A number of brokerages have issued reports on SBAC. BidaskClub upgraded shares of SBA Communications from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Morgan Stanley boosted their price target on shares of SBA Communications from $190.00 to $204.00 and gave the stock an “overweight” rating in a research note on Monday, March 11th. Guggenheim lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research note on Friday, February 22nd. Zacks Investment Research lowered shares of SBA Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Finally, KeyCorp upped their target price on shares of SBA Communications from $176.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $187.63.
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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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