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

Nisa Investment Advisors LLC increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 11.0% during the 3rd quarter, Holdings Channel reports. The firm owned 61,926 shares of the technology company’s stock after purchasing an additional 6,129 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SBA Communications were worth $14,906,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Baker Tilly Wealth Management LLC bought a new position in shares of SBA Communications in the third quarter worth approximately $270,000. State of Alaska Department of Revenue increased its position in shares of SBA Communications by 0.3% in the third quarter. State of Alaska Department of Revenue now owns 63,755 shares of the technology company’s stock worth $15,345,000 after purchasing an additional 162 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in shares of SBA Communications by 5.8% in the third quarter. Frank Rimerman Advisors LLC now owns 2,164 shares of the technology company’s stock worth $521,000 after purchasing an additional 118 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of SBA Communications in the third quarter worth approximately $226,000. Finally, Modera Wealth Management LLC purchased a new stake in SBA Communications in the third quarter worth approximately $884,000. 97.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. 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 can be accessed through this link. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. 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 can be accessed through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is owned by corporate insiders.

SBA Communications Stock Down 3.4 %

Shares of SBAC stock opened at $231.75 on Wednesday. The stock has a fifty day moving average of $237.52 and a 200 day moving average of $214.04. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The firm has a market capitalization of $24.91 billion, a price-to-earnings ratio of 48.89, a PEG ratio of 0.73 and a beta of 0.67.

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

Analyst Ratings Changes

Several brokerages have issued reports on SBAC. Wells Fargo & Company upped their target price on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. TD Cowen upped their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James upped their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada increased their price objective on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Company Profile

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.