Natixis Advisors L.P. raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 17.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,809 shares of the technology company’s stock after buying an additional 2,628 shares during the quarter. Natixis Advisors L.P.’s holdings in SBA Communications were worth $2,883,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of SBAC. Legacy Financial Advisors Inc. acquired a new position in shares of SBA Communications in the fourth quarter valued at $25,000. Resources Investment Advisors Inc. acquired a new position in shares of SBA Communications in the fourth quarter valued at $28,000. CWM LLC raised its stake in shares of 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 purchasing an additional 61 shares in the last quarter. We Are One Seven LLC acquired a new position in shares of SBA Communications in the fourth quarter valued at $34,000. Finally, Private Capital Group LLC grew its position in SBA Communications by 38.7% in the fourth quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock valued at $37,000 after acquiring an additional 63 shares during the period. Institutional investors own 94.05% of the company’s stock.
In related news, Chairman Steven E. Bernstein sold 30,241 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $182.71, for a total transaction of $5,525,333.11. Following the sale, the chairman now owns 15,606 shares in the company, valued at approximately $2,851,372.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin L. Beebe sold 440 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $189.86, for a total value of $83,538.40. Following the sale, the director now owns 13,369 shares in the company, valued at approximately $2,538,238.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 246,558 shares of company stock worth $45,484,249. 2.70% of the stock is currently owned by insiders.
SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 21st. The technology company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($1.33). SBA Communications had a net margin of 2.54% and a negative return on equity of 1.71%. The company had revenue of $483.85 million during the quarter, compared to analyst estimates of $472.87 million. During the same period in the previous year, the company posted $1.78 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities research analysts expect that SBA Communications Co. will post 7.82 EPS for the current fiscal year.
Several equities analysts recently issued reports on the company. Bank of America raised their price target on SBA Communications from $189.00 to $211.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp increased their target price on SBA Communications from $176.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. BidaskClub raised SBA Communications from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 11th. Guggenheim lowered 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. Finally, Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. SBA Communications has an average rating of “Buy” and a consensus target price of $190.38.
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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