TCW Group Inc. Has $3.94 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

TCW Group Inc. lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.0% during the first quarter, HoldingsChannel.com reports. The firm owned 19,745 shares of the technology company’s stock after acquiring an additional 1,113 shares during the period. TCW Group Inc.’s holdings in SBA Communications were worth $3,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SBAC. Cohen & Steers Inc. grew its stake in shares of SBA Communications by 428.1% during the 4th quarter. Cohen & Steers Inc. now owns 3,636,352 shares of the technology company’s stock worth $588,689,000 after purchasing an additional 2,947,789 shares during the period. Norges Bank acquired a new stake in SBA Communications in the 4th quarter valued at $138,480,000. Millennium Management LLC grew its stake in SBA Communications by 248.5% in the 4th quarter. Millennium Management LLC now owns 931,721 shares of the technology company’s stock valued at $150,836,000 after acquiring an additional 664,371 shares during the period. Commonwealth Bank of Australia grew its stake in SBA Communications by 93.2% in the 4th quarter. Commonwealth Bank of Australia now owns 1,027,197 shares of the technology company’s stock valued at $166,282,000 after acquiring an additional 495,490 shares during the period. Finally, Portsea Asset Management LLP acquired a new stake in SBA Communications in the 1st quarter valued at $81,542,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SBAC traded up $2.33 during trading hours on Wednesday, hitting $225.60. The company’s stock had a trading volume of 18,089 shares, compared to its average volume of 668,888. The stock has a market capitalization of $25.09 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.84 and a beta of 0.68. SBA Communications Co. has a 52-week low of $146.13 and a 52-week high of $223.60.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.89 by ($1.66). The business had revenue of $493.29 million during the quarter, compared to analysts’ expectations of $481.06 million. SBA Communications had a negative return on equity of 1.44% and a net margin of 2.20%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 EPS. Sell-side analysts anticipate that SBA Communications Co. will post 7.75 EPS for the current fiscal year.

Several equities research analysts have issued reports on SBAC shares. KeyCorp lifted 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. Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. BidaskClub lowered shares of SBA Communications from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 20th. Guggenheim downgraded SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 target price for the company. in a research report on Friday, February 22nd. Finally, Morgan Stanley lifted their target price on SBA Communications from $190.00 to $204.00 and gave the company an “overweight” rating in a research report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. SBA Communications has a consensus rating of “Buy” and an average target price of $201.80.

In other SBA Communications news, Director Kevin L. Beebe sold 440 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $189.86, for a total value of $83,538.40. Following the completion of the transaction, the director now owns 13,369 shares in the company, valued at $2,538,238.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jason V. Silberstein sold 51,369 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $190.71, for a total value of $9,796,581.99. Following the completion of the sale, the executive vice president now directly owns 60,154 shares in the company, valued at approximately $11,471,969.34. The disclosure for this sale can be found here. Insiders sold 105,467 shares of company stock valued at $21,438,176 in the last quarter. 2.50% of the stock is currently owned by company insiders.

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SBA Communications Company Profile

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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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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