WINTON GROUP Ltd Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

WINTON GROUP Ltd bought a new position in shares of SBA Communications Co. (NASDAQ:SBACGet Rating) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 670 shares of the technology company’s stock, valued at approximately $214,000.

A number of other hedge funds have also modified their holdings of SBAC. Crewe Advisors LLC bought a new stake in SBA Communications in the second quarter valued at approximately $26,000. Carolinas Wealth Consulting LLC increased its position in shares of SBA Communications by 248.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after buying an additional 62 shares in the last quarter. AdvisorNet Financial Inc raised its stake in SBA Communications by 52.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock worth $30,000 after buying an additional 32 shares during the period. Standard Family Office LLC lifted its holdings in SBA Communications by 364.0% during the first quarter. Standard Family Office LLC now owns 116 shares of the technology company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in SBA Communications in the second quarter valued at about $38,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Up 1.7 %

NASDAQ:SBAC opened at $295.62 on Tuesday. The firm has a fifty day simple moving average of $278.41 and a 200 day simple moving average of $310.63. SBA Communications Co. has a 1-year low of $236.20 and a 1-year high of $391.15. The stock has a market capitalization of $31.92 billion, a PE ratio of 79.68 and a beta of 0.46.

SBA Communications (NASDAQ:SBACGet Rating) last released its quarterly earnings data on Monday, October 31st. The technology company reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.04). The firm had revenue of $675.60 million for the quarter, compared to analyst estimates of $651.42 million. SBA Communications had a negative return on equity of 7.57% and a net margin of 16.01%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.71 earnings per share. On average, equities analysts predict that SBA Communications Co. will post 11.34 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th will be given a $0.71 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.96%. SBA Communications’s payout ratio is 76.55%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SBAC. UBS Group decreased their price objective on SBA Communications to $365.00 in a research report on Friday, November 4th. Barclays boosted their price objective on shares of SBA Communications from $286.00 to $341.00 and gave the company an “overweight” rating in a research report on Monday, November 14th. Raymond James dropped their price target on SBA Communications from $393.00 to $308.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 1st. Credit Suisse Group reduced their price objective on SBA Communications from $408.00 to $346.00 and set an “outperform” rating for the company in a research report on Tuesday, November 1st. Finally, Wells Fargo & Company decreased their price objective on SBA Communications from $355.00 to $325.00 and set an “overweight” rating for the company in a report on Tuesday, October 18th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $343.73.

About SBA Communications

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

See Also

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

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