Edgestream Partners L.P. Acquires Shares of 3,490 SBA Communications Corporation (SBAC)

Edgestream Partners L.P. purchased a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,490 shares of the technology company’s stock, valued at approximately $471,000.

Other large investors have also bought and sold shares of the company. Creative Planning raised its holdings in shares of SBA Communications Corporation by 40.7% in the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock valued at $118,000 after purchasing an additional 253 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of SBA Communications Corporation in the 2nd quarter valued at about $159,000. Van ECK Associates Corp raised its holdings in shares of SBA Communications Corporation by 17.0% in the 1st quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock valued at $146,000 after purchasing an additional 177 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of SBA Communications Corporation by 25.7% in the 1st quarter. Toronto Dominion Bank now owns 1,358 shares of the technology company’s stock valued at $163,000 after purchasing an additional 278 shares in the last quarter. Finally, 1ST Source Bank bought a new stake in shares of SBA Communications Corporation in the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 92.35% of the company’s stock.

In other news, EVP Mark R. Ciarfella sold 9,655 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the transaction, the executive vice president now directly owns 21,403 shares in the company, valued at $3,012,258.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director George R. Krouse, Jr. sold 1,643 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $138.63, for a total transaction of $227,769.09. Following the transaction, the director now owns 11,643 shares in the company, valued at $1,614,069.09. The disclosure for this sale can be found here. Insiders sold 18,674 shares of company stock worth $2,706,217 over the last quarter. 2.10% of the stock is currently owned by insiders.

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Shares of SBA Communications Corporation (NASDAQ:SBAC) opened at 142.62 on Friday. The stock has a market cap of $17.17 billion, a P/E ratio of 490.10 and a beta of 0.71. The firm’s 50-day moving average is $145.77 and its 200 day moving average is $132.98. SBA Communications Corporation has a 52-week low of $95.66 and a 52-week high of $154.71.

SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01). The company had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $426.10 million. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 earnings per share. Analysts forecast that SBA Communications Corporation will post $0.94 earnings per share for the current fiscal year.

Several research firms have recently commented on SBAC. Royal Bank Of Canada restated a “buy” rating on shares of SBA Communications Corporation in a report on Wednesday, August 2nd. Citigroup Inc. downgraded shares of SBA Communications Corporation to an “outperform” rating and set a $153.00 price objective on the stock. in a research report on Monday, June 12th. BidaskClub downgraded shares of SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $160.00 price objective (up previously from $148.00) on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $148.00 price objective on shares of SBA Communications Corporation in a research report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $145.62.

SBA Communications Corporation 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 Corporation (NASDAQ:SBAC)

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