SBA Communications Co. (SBAC) Position Increased by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 354.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,031 shares of the technology company’s stock after buying an additional 3,923 shares during the period. Cubist Systematic Strategies LLC’s holdings in SBA Communications were worth $725,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. raised its position in SBA Communications by 18.8% during the second quarter. D.A. Davidson & CO. now owns 758 shares of the technology company’s stock worth $102,000 after acquiring an additional 120 shares during the period. Sun Life Financial INC acquired a new position in SBA Communications during the third quarter worth $127,000. Advisor Group Inc. raised its position in SBA Communications by 9.7% during the second quarter. Advisor Group Inc. now owns 1,286 shares of the technology company’s stock worth $172,000 after acquiring an additional 114 shares during the period. Toronto Dominion Bank raised its position in SBA Communications by 9.5% during the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after acquiring an additional 129 shares during the period. Finally, Coastline Trust Co acquired a new position in SBA Communications during the second quarter worth $202,000. 96.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SBA Communications Co. (SBAC) opened at $160.22 on Friday. The company has a market cap of $18,550.00, a PE ratio of 190.74 and a beta of 0.77. The company has a debt-to-equity ratio of -3.63, a current ratio of 0.32 and a quick ratio of 0.32. SBA Communications Co. has a 12-month low of $102.06 and a 12-month high of $173.97.
SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 30th. The technology company reported $1.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $1.50. The business had revenue of $433.90 million during the quarter, compared to analysts’ expectations of $431.42 million. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.12) earnings per share. sell-side analysts anticipate that SBA Communications Co. will post 0.97 EPS for the current fiscal year.
In other news, Director George R. Krouse, Jr. sold 1,999 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total value of $338,850.49. Following the completion of the sale, the director now directly owns 11,999 shares in the company, valued at $2,033,950.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by corporate insiders.
A number of equities analysts have weighed in on SBAC shares. KeyCorp upgraded shares of SBA Communications from a “sector weight” rating to an “overweight” rating and set a $170.00 price objective for the company in a research report on Wednesday, September 27th. Royal Bank of Canada restated a “buy” rating and set a $200.00 price objective on shares of SBA Communications in a research report on Thursday, November 30th. UBS Group started coverage on shares of SBA Communications in a research report on Wednesday, October 18th. They set a “buy” rating and a $176.00 price objective for the company. BidaskClub cut shares of SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Finally, Zacks Investment Research upgraded shares of SBA Communications from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $160.43.
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SBA Communications Company Profile
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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