Zweig-dimenna Associates adds SBA Communications Corporation (SBAC) to its portfolio

SBA Communications Corporation (SBAC) : Zweig-dimenna Associates added new position in SBA Communications Corporation during the most recent quarter end. The investment management firm now holds 117,500 shares of SBA Communications Corporation which is valued at $13,647,625 , the company said in a statement filed on Aug 8, 2016 with the SEC.SBA Communications Corporation makes up approximately 1.32% of Zweig-dimenna Associates’s portfolio.

Other Hedge Funds, Including , Advisors Asset Management reduced its stake in SBAC by selling 114 shares or 1.88% in the most recent quarter. The Hedge Fund company now holds 5,948 shares of SBAC which is valued at $690,860. SBA Communications Corporation makes up approx 0.01% of Advisors Asset Management’s portfolio.Princeton Alpha Management Lp boosted its stake in SBAC in the latest quarter, The investment management firm added 8,998 additional shares and now holds a total of 14,203 shares of SBA Communications Corporation which is valued at $1,617,154. SBA Communications Corporation makes up approx 0.27% of Princeton Alpha Management Lp’s portfolio.New Jersey Better Educational Savings Trust boosted its stake in SBAC in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 6,000 shares of SBA Communications Corporation which is valued at $679,260. SBA Communications Corporation makes up approx 0.44% of New Jersey Better Educational Savings Trust’s portfolio.Pitcairn Co boosted its stake in SBAC in the latest quarter, The investment management firm added 3,637 additional shares and now holds a total of 18,353 shares of SBA Communications Corporation which is valued at $2,069,301. SBA Communications Corporation makes up approx 0.26% of Pitcairn Co’s portfolio.

SBA Communications Corporation closed down -0.54 points or -0.46% at $115.78 with 6,25,099 shares getting traded on Monday. Post opening the session at $116.77, the shares hit an intraday low of $115.76 and an intraday high of $117 and the price fluctuated in this range throughout the day.Shares ended Monday 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 Company’s 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 Company’s principal operations are in the United States and its territories. In addition it owns and operates towers in Canada Central America and South America.

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