Fortune Financial Advisors LLC Acquires 139 Shares of SBA Communications Co. (NASDAQ:SBAC)

Fortune Financial Advisors LLC lifted its stake in SBA Communications Co. (NASDAQ:SBAC) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,934 shares of the technology company’s stock after purchasing an additional 139 shares during the quarter. Fortune Financial Advisors LLC’s holdings in SBA Communications were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBAC. State Street Corp raised its holdings in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after buying an additional 81,566 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after acquiring an additional 605,872 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in SBA Communications by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock valued at $305,637,000 after acquiring an additional 62,555 shares in the last quarter. Victory Capital Management Inc. boosted its stake in SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after purchasing an additional 1,174,469 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of SBA Communications by 377.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after purchasing an additional 700,791 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SBAC. Barclays dropped their price target on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. TD Cowen increased their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company cut their price objective on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

SBA Communications Price Performance

SBAC opened at $199.14 on Friday. The firm has a market cap of $21.41 billion, a P/E ratio of 31.41, a PEG ratio of 0.70 and a beta of 0.69. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The company has a 50 day simple moving average of $208.34 and a two-hundred day simple moving average of $221.58.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $3.34 earnings per share. Equities analysts anticipate that SBA Communications Co. will post 12.57 earnings per share for the current year.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.