SBA Communications Corporation (SBAC) : Meritage Group Lp scooped up 414,476 additional shares in SBA Communications Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 2,496,869 shares of SBA Communications Corporation which is valued at $290,435,802.SBA Communications Corporation makes up approximately 8.79% of Meritage Group Lp’s portfolio.
Other Hedge Funds, Including , Pictet Asset Management Ltd reduced its stake in SBAC by selling 1,800 shares or 3.85% in the most recent quarter. The Hedge Fund company now holds 45,000 shares of SBAC which is valued at $5,234,400. SBA Communications Corporation makes up approx 0.02% of Pictet Asset Management Ltd’s portfolio.Ameritas Investment Partners boosted its stake in SBAC in the latest quarter, The investment management firm added 63 additional shares and now holds a total of 2,215 shares of SBA Communications Corporation which is valued at $257,649. SBA Communications Corporation makes up approx 0.02% of Ameritas Investment Partners’s portfolio.Pioneer Investment Management Inc reduced its stake in SBAC by selling 28,385 shares or 38.23% in the most recent quarter. The Hedge Fund company now holds 45,855 shares of SBAC which is valued at $5,333,854. SBA Communications Corporation makes up approx 0.02% of Pioneer Investment Management Inc’s portfolio. Oppenheimer Co Inc sold out all of its stake in SBAC during the most recent quarter. The investment firm sold 2,730 shares of SBAC which is valued $317,090.Diam Ltd. boosted its stake in SBAC in the latest quarter, The investment management firm added 97 additional shares and now holds a total of 12,195 shares of SBA Communications Corporation which is valued at $1,380,596. SBA Communications Corporation makes up approx 0.02% of Diam Ltd.’s portfolio.
SBA Communications Corporation opened for trading at $113.66 and hit $114.59 on the upside on Monday, eventually ending the session at $114.23, with a gain of 0.33% or 0.38 points. The heightened volatility saw the trading volume jump to 4,59,802 shares. Company has a market cap of $14,235 M.
On the company’s financial health, SBA Communications Corporation reported $1.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.39. The company had revenue of $405.50 million for the quarter, compared to analysts expectations of $403.45 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.42 EPS.
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 operated through two segments namely site leasing and site development. The Companys primary business line is its site leasing business. In its site leasing business the Company leases antenna space to wireless service providers on towers that it owns or operates and manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5000 actual or potential towers. Its other business line is its site development business through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Companys principal operations are in the United States and its territories. In addition it owns and operates towers in Canada Central America and South America.