Cypress Capital Group Has $481,000 Position in SBA Communications Corporation (SBAC)

Cypress Capital Group maintained its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,000 shares of the technology company’s stock at the end of the first quarter. Cypress Capital Group’s holdings in SBA Communications Corporation were worth $481,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cadence Capital Management LLC boosted its stake in SBA Communications Corporation by 2.9% in the fourth quarter. Cadence Capital Management LLC now owns 4,616 shares of the technology company’s stock worth $477,000 after buying an additional 132 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in SBA Communications Corporation by 42.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 9,735 shares of the technology company’s stock worth $1,005,000 after buying an additional 2,901 shares in the last quarter. Comerica Bank boosted its stake in SBA Communications Corporation by 24.2% in the fourth quarter. Comerica Bank now owns 20,361 shares of the technology company’s stock worth $2,150,000 after buying an additional 3,973 shares in the last quarter. Van ECK Associates Corp boosted its stake in SBA Communications Corporation by 24.7% in the fourth quarter. Van ECK Associates Corp now owns 1,040 shares of the technology company’s stock worth $107,000 after buying an additional 206 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in SBA Communications Corporation by 42.7% in the fourth quarter. Private Advisor Group LLC now owns 2,932 shares of the technology company’s stock worth $307,000 after buying an additional 877 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

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

SBA Communications Corporation (NASDAQ SBAC) traded up 0.63% during trading on Friday, reaching $133.05. 964,691 shares of the company were exchanged. SBA Communications Corporation has a one year low of $95.66 and a one year high of $140.38. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 276.04 and a beta of 0.77. The firm’s 50 day moving average price is $132.43 and its 200-day moving average price is $115.95.

SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, May 1st. The technology company reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $1.48. SBA Communications Corporation had a negative return on equity of 2.23% and a net margin of 3.69%. The firm had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $418.21 million. During the same period in the prior year, the business posted $1.45 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. On average, equities research analysts predict that SBA Communications Corporation will post $1.04 earnings per share for the current year.

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A number of analysts have recently issued reports on SBAC shares. Zacks Investment Research cut shares of SBA Communications Corporation from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 4th. Macquarie restated a “hold” rating and set a $107.00 target price on shares of SBA Communications Corporation in a research note on Sunday, February 26th. Goldman Sachs Group, Inc. (The) raised their target price on shares of SBA Communications Corporation from $121.00 to $131.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 2nd. Jefferies Group LLC raised their target price on shares of SBA Communications Corporation from $133.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, May 2nd. Finally, Guggenheim upgraded shares of SBA Communications Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $118.00 to $137.00 in a research note on Monday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $135.29.

In other news, Director George R. Krouse, Jr. sold 187 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $138.43, for a total transaction of $25,886.41. Following the sale, the director now directly owns 10,896 shares in the company, valued at $1,508,333.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brian C. Carr sold 3,475 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $132.54, for a total value of $460,576.50. Following the sale, the director now owns 3,051 shares in the company, valued at $404,379.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 171,028 shares of company stock worth $22,956,475. Company insiders own 2.10% of the company’s stock.

SBA Communications Corporation 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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