Soroban Capital Partners LP Has $183.34 Million Stake in SBA Communications Co. (SBAC)

Soroban Capital Partners LP lessened its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 35.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,272,763 shares of the technology company’s stock after selling 702,017 shares during the period. SBA Communications makes up about 0.7% of Soroban Capital Partners LP’s portfolio, making the stock its 22nd biggest holding. Soroban Capital Partners LP owned about 1.08% of SBA Communications worth $183,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Toronto Dominion Bank increased its position in shares of SBA Communications by 9.5% in the 2nd quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock valued at $201,000 after acquiring an additional 129 shares during the period. State Treasurer State of Michigan acquired a new position in shares of SBA Communications in the 3rd quarter valued at $5,258,000. Oakbrook Investments LLC acquired a new position in shares of SBA Communications in the 3rd quarter valued at $828,000. SG Americas Securities LLC increased its position in shares of SBA Communications by 160.5% in the 2nd quarter. SG Americas Securities LLC now owns 12,629 shares of the technology company’s stock valued at $1,704,000 after acquiring an additional 7,781 shares during the period. Finally, Delta Lloyd Asset Management N.V. acquired a new position in shares of SBA Communications in the 2nd quarter valued at $3,475,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Shares of SBA Communications Co. (NASDAQ SBAC) opened at $166.40 on Thursday. The firm has a market capitalization of $19,261.61, a PE ratio of 204.84 and a beta of 0.77. The company has a debt-to-equity ratio of -3.63, a quick ratio of 0.32 and a current ratio of 0.32. SBA Communications Co. has a 12-month low of $97.72 and a 12-month high of $173.97.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $1.50. SBA Communications had a net margin of 5.95% and a negative return on equity of 4.71%. The business had revenue of $433.90 million for the quarter, compared to analyst estimates of $431.42 million. During the same period in the prior year, the company posted ($0.12) EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. equities analysts anticipate that SBA Communications Co. will post 0.96 earnings per share for the current fiscal year.

In other news, Director George R. Krouse, Jr. sold 1,999 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $169.51, for a total transaction of $338,850.49. Following the sale, the director now directly owns 11,999 shares of the company’s stock, valued at approximately $2,033,950.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Several research firms recently issued reports on SBAC. Royal Bank Of Canada reissued a “buy” rating and issued a $200.00 target price on shares of SBA Communications in a research report on Thursday, November 30th. Cowen reissued a “buy” rating and issued a $170.00 target price (up from $155.00) on shares of SBA Communications in a research report on Tuesday. KeyCorp reissued an “overweight” rating and issued a $192.00 target price (up from $179.00) on shares of SBA Communications in a research report on Monday, November 27th. BidaskClub raised SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Finally, Zacks Investment Research raised SBA Communications from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $159.40.

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About SBA Communications

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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