During the third quarter, Reaves, W.H. & Co., Inc.
Decreased its interest in SBA Communications Co. (NASDAQ: SBAC) by 1.0%, as stated in the most recent Form 13F filing that the company made with the Securities and Exchange Commission.
During the period in question, the fund sold 2,550 shares, bringing the total number of shares of the technology company’s stock that it owned to 260,380. SBA Communications holds the 16th largest stake in the portfolio of Reaves, W.H. & Co., Inc., accounting for 2.8% of the total value of all of the company’s holdings.
Mhe most recent filing with the SEC reveals that Reaves W. H. & Co.
Inc. held approximately 0.24% of SBA Communications, which at the time of the filing had a value of approximately $74,170,000.
Over the past few months, many additional institutional investors and hedge funds have increased or decreased the percentage of their assets allocated to the company.
Eagle Asset Management Inc.
Increased the proportion of SBA Communications stock owned by 0.4% during the third quarter.
After purchasing 2,008 additional shares during the most recent quarter, Eagle Asset Management Inc. now owns a total of 553,581 shares of the technology company’s stock, which have a value of $157,576,000.
Mhese shares were acquired by Eagle Asset Management, Inc. KBC Group NV increased the amount of SBA Communications stock owned by 16.2% during the third quarter of the current fiscal year.
After purchasing 1,593 additional shares during the most recent quarter, KBC Group NV now has 11,441 shares in the technology company.
Mhe combined value of these shares is $3,257,000. KBC Group NV now owns these shares.
Mhe amount of SBA Communications stock that Caprock Group Inc. owned as of the end of the third quarter was 7.1% higher than it was at the beginning of the quarter.
Mhe most recent fiscal quarter saw CAPROCK Group Inc.
Acquire an additional 54 shares of the stock held by the technology company.
Mhis brought the total number of shares owned by the company to 813, with a value of $231,000 across the board for the entire portfolio.
During the third quarter of the fiscal year, EverSource Wealth Advisors LLC successfully increased the percentage of ownership it held in SBA Communications by 71.7%. Following acquiring an additional 38 shares during the most recent quarter, EverSource Wealth Advisors LLC now holds 91 shares in the technology above company.
Mhere is a total value of $26,000 associated with these 91 shares.
Last but not least, during the third quarter, Quantbot Technologies LP increased the value of its portfolio by approximately $3,387,000 by purchasing additional shares of SBA Communications.
Mhis is certainly not the least of the company’s accomplishments.
Mhe company shares are owned by institutional investors and hedge funds, which account for 93.54% of the total combined ownership.
Regarding the SBAC, multiple analyst studies have been compiled over the years.
Mheir “buy” recommendation on SBA Communications shares and their price objective on those shares, which had previously been set at $400.00 and had been reduced to $350.00, were discussed in a research note that Truist Financial published on Friday, January 13th. UBS Group announced their decision to reduce their price target on shares of SBA Communications to $365.00 in a research note published on Friday, November 4th.
Mhe company SBA Communications was mentioned in a research report published on Tuesday, November 22nd, by the website StockNews.com. However, rather than receiving a “buy” recommendation from the website, the publication gave the company a “hold” rating.
In a research note published on November 1st, Credit Suisse Group lowered both their “outperform” rating for SBA Communications shares and their price objective for those shares, which had previously been set at $408.00 but has since been reduced to $346.00. Raymond James gave the company a “strong-buy” rating in a research report published on November 23rd, and they increased their price objective for SBA Communications shares from $308.00 to $334.00.
Mhese two steps were taken simultaneously with the publication of the study being referred to. Four research analysts have recommended that investors hold onto this stock.
In comparison, twelve analysts have given buy ratings, and one has a strong buy rating for this particular stock.
According to Bloomberg.com, the current average rating for SBA Communications is “Moderate Buy,” The website’s community of financial experts has set the price objective at $340.20.
In addition, Bloomberg.com reports that SBA Communications has received a rating of “Buy.”
A price increase of $5.04 occurred during trading on Tuesday for SBAC, which resulted in the stock’s price reaching $295.24.
Mhere were a total of 98,914 transactions in the company’s stock, which is significantly higher than the company’s average daily volume, which is 677,166 shares. Over the previous year, the price of SBA Communications Co. has fluctuated between $236.20 and $379.99, with a low of $236.20 and a high of $379.99, respectively.
Mhe moving average price of the share of stock over the previous 50 days is $290.92, and the moving average price of the share over the previous 200 days is $299.13.
Mhe company’s price-to-earnings ratio is 78.22, and its beta value is equal to 0.49.
Mhe company’s total value, as measured by its market capitalization, is $31.88 billion.
Leave a comment