SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Wetherby Asset Management Inc.

Wetherby Asset Management Inc. raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 5.2% in the second quarter, Holdings Channel.com reports. The fund owned 1,778 shares of the technology company’s stock after acquiring an additional 88 shares during the period. Wetherby Asset Management Inc.’s holdings in SBA Communications were worth $400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Spectrum Management Group Inc. acquired a new position in shares of SBA Communications in the 1st quarter valued at about $27,000. CWM LLC increased its stake in shares of SBA Communications by 31.4% in the first quarter. CWM LLC now owns 243 shares of the technology company’s stock valued at $49,000 after buying an additional 58 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of SBA Communications by 27.0% in the first quarter. Parallel Advisors LLC now owns 268 shares of the technology company’s stock valued at $53,000 after buying an additional 57 shares in the last quarter. NEXT Financial Group Inc increased its stake in shares of SBA Communications by 22.7% in the second quarter. NEXT Financial Group Inc now owns 276 shares of the technology company’s stock valued at $62,000 after buying an additional 51 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in shares of SBA Communications in the first quarter valued at $56,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

SBA Communications stock traded down $1.35 during mid-day trading on Friday, hitting $251.21. The stock had a trading volume of 79,316 shares, compared to its average volume of 581,748. The firm’s 50-day moving average is $234.80. The firm has a market cap of $28.08 billion, a PE ratio of 33.05, a PEG ratio of 3.17 and a beta of 0.69. SBA Communications Co. has a 12 month low of $146.13 and a 12 month high of $252.74.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($1.58). SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The company had revenue of $500.10 million for the quarter, compared to the consensus estimate of $489.09 million. During the same quarter last year, the business posted ($0.50) EPS. SBA Communications’s quarterly revenue was up 9.6% on a year-over-year basis. Research analysts expect that SBA Communications Co. will post 7.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Tuesday, August 27th.

In other SBA Communications news, Director George R. Krouse, Jr. sold 2,087 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $247.51, for a total transaction of $516,553.37. Following the transaction, the director now owns 10,950 shares in the company, valued at $2,710,234.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Duncan Cocroft sold 6,453 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $209.71, for a total value of $1,353,258.63. Following the transaction, the director now owns 69,774 shares in the company, valued at approximately $14,632,305.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,707 shares of company stock worth $13,382,974. Company insiders own 2.50% of the company’s stock.

A number of analysts have recently weighed in on SBAC shares. SunTrust Banks raised their target price on SBA Communications to $255.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. UBS Group lowered SBA Communications from a “buy” rating to a “neutral” rating and raised their target price for the company from $209.00 to $240.00 in a research note on Friday, June 7th. Raymond James lowered SBA Communications from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Cowen raised their target price on SBA Communications from $203.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, TheStreet upgraded SBA Communications from a “c” rating to a “b-” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $227.15.

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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