Advisory Research Inc. Takes $452,000 Position in SBA Communications Co. (NASDAQ:SBAC)

Advisory Research Inc. purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,766 shares of the technology company’s stock, valued at approximately $452,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its stake in shares of SBA Communications by 88.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,070,110 shares of the technology company’s stock worth $154,151,000 after purchasing an additional 503,526 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SBA Communications by 70.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,166,994 shares of the technology company’s stock worth $168,105,000 after purchasing an additional 480,852 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of SBA Communications by 79.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 938,873 shares of the technology company’s stock worth $134,971,000 after purchasing an additional 415,078 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of SBA Communications by 83.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 887,981 shares of the technology company’s stock worth $127,913,000 after purchasing an additional 402,820 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of SBA Communications by 14.4% in the 3rd quarter. American Century Companies Inc. now owns 2,552,824 shares of the technology company’s stock worth $367,734,000 after purchasing an additional 322,085 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

In related news, Director Duncan Cocroft acquired 500 shares of the stock in a transaction that occurred on Monday, March 12th. The shares were purchased at an average cost of $167.29 per share, with a total value of $83,645.00. Following the completion of the transaction, the director now owns 87,966 shares of the company’s stock, valued at approximately $14,715,832.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.

SBAC has been the topic of several recent research reports. BidaskClub raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $200.00 price objective on shares of SBA Communications in a research note on Thursday, November 30th. SunTrust Banks reaffirmed a “buy” rating on shares of SBA Communications in a research note on Tuesday, February 27th. Deutsche Bank lifted their price objective on shares of SBA Communications from $164.00 to $170.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Finally, Cowen reaffirmed a “buy” rating on shares of SBA Communications in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $173.07.

SBA Communications Co. (NASDAQ:SBAC) traded down $0.11 during trading on Wednesday, hitting $170.23. 999,427 shares of the stock traded hands, compared to its average volume of 1,320,000. The stock has a market capitalization of $19,850.00, a P/E ratio of 197.94, a P/E/G ratio of 16.24 and a beta of 0.92. The company has a debt-to-equity ratio of -3.57, a quick ratio of 0.93 and a current ratio of 0.93. SBA Communications Co. has a 1-year low of $115.19 and a 1-year high of $177.67.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 26th. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $0.18 by $1.60. The business had revenue of $443.10 million for the quarter, compared to the consensus estimate of $437.01 million. SBA Communications had a net margin of 6.00% and a negative return on equity of 5.43%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. research analysts predict that SBA Communications Co. will post 1.04 earnings per share for the current fiscal year.

SBA Communications declared that its Board of Directors has approved a share buyback plan on Monday, February 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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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.

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

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