Forsta AP Fonden Has $7.87 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Forsta AP Fonden lifted its stake in SBA Communications Co. (NASDAQ:SBAC) by 22.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,700 shares of the technology company’s stock after acquiring an additional 5,900 shares during the quarter. Forsta AP Fonden’s holdings in SBA Communications were worth $7,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC increased its position in SBA Communications by 191.3% in the 1st quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock worth $5,597,000 after purchasing an additional 16,962 shares during the last quarter. FORA Capital LLC bought a new position in SBA Communications during the first quarter valued at approximately $4,872,000. Virtu Financial LLC bought a new position in SBA Communications during the first quarter valued at approximately $1,764,000. Easterly Investment Partners LLC acquired a new stake in SBA Communications in the first quarter valued at approximately $1,412,000. Finally, Centersquare Investment Management LLC grew its position in SBA Communications by 1.9% in the first quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock worth $36,488,000 after acquiring an additional 3,087 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SBAC shares. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Friday, September 20th. TD Cowen cut their target price on SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. The Goldman Sachs Group upped their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Morgan Stanley upped their target price on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $251.58.

SBA Communications Trading Down 1.7 %

SBAC opened at $241.79 on Monday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The business has a 50 day moving average of $236.84 and a 200-day moving average of $213.58. The stock has a market capitalization of $25.98 billion, a price-to-earnings ratio of 47.41, a P/E/G ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. During the same period last year, the company earned $3.24 earnings per share. SBA Communications’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts predict that SBA Communications Co. will post 12.52 EPS for the current year.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,590 shares of company stock worth $11,483,981. Company insiders own 1.30% of the company’s stock.

SBA Communications 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.