Nisa Investment Advisors LLC Purchases 6,129 Shares of SBA Communications Co. (NASDAQ:SBAC)

Nisa Investment Advisors LLC grew its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,926 shares of the technology company’s stock after purchasing an additional 6,129 shares during the quarter. Nisa Investment Advisors LLC owned about 0.06% of SBA Communications worth $14,906,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Baker Tilly Wealth Management LLC bought a new stake in shares of SBA Communications in the 3rd quarter valued at $270,000. State of Alaska Department of Revenue increased its stake in shares of SBA Communications by 0.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 63,755 shares of the technology company’s stock valued at $15,345,000 after acquiring an additional 162 shares in the last quarter. Frank Rimerman Advisors LLC increased its stake in shares of SBA Communications by 5.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,164 shares of the technology company’s stock valued at $521,000 after acquiring an additional 118 shares in the last quarter. Clear Harbor Asset Management LLC bought a new stake in shares of SBA Communications in the 3rd quarter valued at $226,000. Finally, Modera Wealth Management LLC bought a new stake in shares of SBA Communications in the 3rd quarter valued at $884,000. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock valued at $11,483,981 over the last three months. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SBAC has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Raymond James boosted their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group boosted their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $257.23.

SBA Communications Stock Down 3.4 %

NASDAQ SBAC opened at $231.75 on Wednesday. The company has a market cap of $24.91 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The firm’s 50-day simple moving average is $237.52 and its two-hundred day simple moving average is $214.04.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $3.34 earnings per share. As a group, equities research analysts anticipate that SBA Communications Co. will post 12.52 EPS for the current year.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.