SBA Communications Corporation (SBAC) : Seven Harbour Global Lp has sold out all of its stake in SBA Communications Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 11, 2016 with the SEC. The investment management company has sold out 90,000 shares of SBA Communications Corporation which is valued at $10,468,800.
Other Hedge Funds, Including , Miles Capital reduced its stake in SBAC by selling 1,607 shares or 41.85% in the most recent quarter. The Hedge Fund company now holds 2,233 shares of SBAC which is valued at $259,743. SBA Communications Corporation makes up approx 0.17% of Miles Capital’s portfolio.Keybank National Associationoh boosted its stake in SBAC in the latest quarter, The investment management firm added 959 additional shares and now holds a total of 6,576 shares of SBA Communications Corporation which is valued at $764,920.Friedberg Investment Management reduced its stake in SBAC by selling 450 shares or 2.74% in the most recent quarter. The Hedge Fund company now holds 15,995 shares of SBAC which is valued at $1,860,538. SBA Communications Corporation makes up approx 0.86% of Friedberg Investment Management’s portfolio.Reliance Trust Co Of Delaware boosted its stake in SBAC in the latest quarter, The investment management firm added 181 additional shares and now holds a total of 2,483 shares of SBA Communications Corporation which is valued at $288,823. SBA Communications Corporation makes up approx 0.03% of Reliance Trust Co Of Delaware’s portfolio.Ubs Asset Management Americas Inc reduced its stake in SBAC by selling 97,151 shares or 5.95% in the most recent quarter. The Hedge Fund company now holds 1,534,934 shares of SBAC which is valued at $178,282,584. SBA Communications Corporation makes up approx 0.20% of Ubs Asset Management Americas Inc’s portfolio.
SBA Communications Corporation closed down -0.52 points or -0.46% at $112.96 with 9,30,834 shares getting traded on Tuesday. Post opening the session at $114.21, the shares hit an intraday low of $112.74 and an intraday high of $114.37 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.