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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