State of Wisconsin Investment Board reduced its holdings in SBA Communications Co. (NASDAQ:SBAC) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,112 shares of the technology company’s stock after selling 3,750 shares during the period. State of Wisconsin Investment Board owned about 0.13% of SBA Communications worth $25,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SBAC. Millennium Management LLC lifted its stake in SBA Communications by 239.5% in the 1st quarter. Millennium Management LLC now owns 555,676 shares of the technology company’s stock worth $94,976,000 after acquiring an additional 391,979 shares in the last quarter. Rivulet Capital LLC lifted its stake in SBA Communications by 122.1% in the 1st quarter. Rivulet Capital LLC now owns 704,400 shares of the technology company’s stock worth $120,396,000 after acquiring an additional 387,300 shares in the last quarter. Wells Fargo & Company MN lifted its stake in SBA Communications by 17.3% in the 1st quarter. Wells Fargo & Company MN now owns 1,544,179 shares of the technology company’s stock worth $263,930,000 after acquiring an additional 228,221 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in SBA Communications by 11,423.6% in the 1st quarter. Summit Trail Advisors LLC now owns 219,639 shares of the technology company’s stock worth $220,000 after acquiring an additional 217,733 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in SBA Communications by 41.5% in the 1st quarter. JPMorgan Chase & Co. now owns 721,621 shares of the technology company’s stock worth $123,339,000 after acquiring an additional 211,764 shares in the last quarter. 94.08% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Kurt L. Bagwell sold 126,605 shares of the firm’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $165.06, for a total transaction of $20,897,421.30. Following the completion of the sale, the executive vice president now directly owns 42,089 shares of the company’s stock, valued at approximately $6,947,210.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 10,617 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $160.12, for a total value of $1,699,994.04. Following the sale, the executive vice president now directly owns 20,341 shares of the company’s stock, valued at $3,257,000.92. The disclosure for this sale can be found here. Insiders have sold a total of 226,984 shares of company stock valued at $37,231,290 over the last ninety days. Company insiders own 2.70% of the company’s stock.

SBAC opened at $156.10 on Friday. SBA Communications Co. has a fifty-two week low of $137.17 and a fifty-two week high of $177.67. The company has a quick ratio of 1.21, a current ratio of 1.18 and a debt-to-equity ratio of -3.18.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 30th. The technology company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.68). SBA Communications had a negative return on equity of 1.26% and a net margin of 1.73%. The firm had revenue of $456.30 million for the quarter, compared to analysts’ expectations of $457.43 million. During the same period last year, the business earned $1.73 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. equities analysts forecast that SBA Communications Co. will post 7.43 EPS for the current fiscal year.

Several equities research analysts recently issued reports on the company. Morgan Stanley reduced their price objective on SBA Communications from $182.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, May 31st. Zacks Investment Research raised SBA Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 25th. BidaskClub downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. ValuEngine downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Deutsche Bank increased their price objective on SBA Communications from $170.00 to $183.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. SBA Communications presently has an average rating of “Buy” and an average target price of $181.80.

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.

Featured Story: Trading Penny Stocks

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Co. (NASDAQ:SBAC).

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

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.