Banque Cantonale Vaudoise Makes New $2.44 Million Investment in SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Banque Cantonale Vaudoise has acquired 11,102 shares of SBA Communications Corporation, valued at approximately $2.44 million, during the first quarter of the year.
• Recent analyst ratings include a "strong-buy" from Raymond James with a target price of $268 and a downgrade to "hold" from Deutsche Bank with a target of $247.
• Approximately 97.35% of SBA Communications stock is owned by institutional investors, showcasing strong confidence in the company from the investment community.

Banque Cantonale Vaudoise acquired a new position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,102 shares of the technology company's stock, valued at approximately $2,442,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dodge & Cox lifted its stake in shares of SBA Communications by 352.5% in the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock valued at $1,497,167,000 after acquiring an additional 5,722,740 shares during the last quarter. BROOKFIELD Corp ON lifted its stake in shares of SBA Communications by 27,449.9% in the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock valued at $202,016,000 after acquiring an additional 987,647 shares during the last quarter. Voyager Global Management LP bought a new stake in shares of SBA Communications in the 4th quarter valued at about $95,786,000. Cohen & Steers Inc. lifted its stake in shares of SBA Communications by 29.8% in the 4th quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock valued at $383,762,000 after acquiring an additional 432,644 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of SBA Communications by 30,393.6% in the 1st quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock valued at $81,513,000 after acquiring an additional 369,282 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Down 1.0%

Shares of SBAC stock traded down $2.26 during midday trading on Thursday, reaching $224.72. 859,194 shares of the stock were exchanged, compared to its average volume of 647,893. SBA Communications Corporation has a 1 year low of $192.55 and a 1 year high of $252.64. The company's 50 day moving average is $231.27 and its two-hundred day moving average is $222.38. The firm has a market cap of $24.15 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 1.88 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SBAC shares. Scotiabank initiated coverage on SBA Communications in a research note on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target for the company. in a research report on Tuesday, May 20th. Citigroup upped their price target on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley upped their price target on SBA Communications from $255.00 to $260.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 22nd. Finally, Wall Street Zen lowered SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $257.19.

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.