The SBA Communications Corp. (SBAC) Stake Increased by Nomura Asset Management Co. Ltd.

The SBA Communications Corp. (SBAC) Stake Increased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its position in SBA Communications Corp. (NASDAQ:SBAC) by 2.5% during the third quarter, Holdings Channel reports. The fund owned 22,058 shares of the company’s stock after buying an additional 539 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in SBA Communications Corp. were worth $2,474,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SBAC. Macquarie Group Ltd. raised its stake in SBA Communications Corp. by 53.1% in the second quarter. Macquarie Group Ltd. now owns 178,855 shares of the company’s stock worth $19,305,000 after buying an additional 62,000 shares during the last quarter. Bank of Montreal Can raised its stake in SBA Communications Corp. by 7.0% in the third quarter. Bank of Montreal Can now owns 83,925 shares of the company’s stock worth $9,412,000 after buying an additional 5,502 shares during the last quarter. Personal Capital Advisors Corp raised its stake in SBA Communications Corp. by 11.9% in the second quarter. Personal Capital Advisors Corp now owns 167,886 shares of the company’s stock worth $18,122,000 after buying an additional 17,883 shares during the last quarter. Bridgewater Associates LP acquired a new stake in SBA Communications Corp. during the third quarter worth $2,199,000. Finally, Teachers Advisors LLC raised its stake in SBA Communications Corp. by 6.9% in the third quarter. Teachers Advisors LLC now owns 118,404 shares of the company’s stock worth $13,280,000 after buying an additional 7,667 shares during the last quarter. Hedge funds and other institutional investors own 95.83% of the company’s stock.

Shares of SBA Communications Corp. (NASDAQ:SBAC) traded down 1.33% during trading on Thursday, reaching $105.64. 430,197 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $102.60 and a 200-day moving average price of $108.85. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of 130.90 and a beta of 0.74. SBA Communications Corp. has a 52 week low of $82.80 and a 52 week high of $118.57.

SBA Communications Corp. (NASDAQ:SBAC) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $1.44. SBA Communications Corp. had a net margin of 6.38% and a negative return on equity of 2.24%. The business had revenue of $411.30 million for the quarter, compared to analysts’ expectations of $412.65 million. During the same period in the prior year, the company posted $1.43 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. Analysts predict that SBA Communications Corp. will post $0.68 earnings per share for the current year.

Several analysts recently commented on SBAC shares. Zacks Investment Research lowered shares of SBA Communications Corp. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 5th. Guggenheim started coverage on shares of SBA Communications Corp. in a research report on Thursday, December 15th. They set a “neutral” rating on the stock. BTIG Research restated a “buy” rating and set a $145.00 price target on shares of SBA Communications Corp. in a research report on Wednesday, December 21st. Macquarie started coverage on shares of SBA Communications Corp. in a research report on Tuesday, December 6th. They set a “neutral” rating and a $107.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded shares of SBA Communications Corp. from a “neutral” rating to an “overweight” rating and set a $130.00 price target on the stock in a research report on Wednesday, November 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $122.77.

SBA Communications Corp. 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.

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Corp. (NASDAQ:SBAC).

Related posts

Leave a Comment