William Blair Investment Management buys $261,313,922 stake in SBA Communications Corporation (SBAC)

SBA Communications Corporation (SBAC) : William Blair Investment Management scooped up 39,054 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 8, 2016. The investment management firm now holds a total of 2,249,797 shares of SBA Communications Corporation which is valued at $261,313,922.SBA Communications Corporation makes up approximately 0.97% of William Blair Investment Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Investment Partners S.a. boosted its stake in SBAC in the latest quarter, The investment management firm added 135 additional shares and now holds a total of 34,479 shares of SBA Communications Corporation which is valued at $4,004,736. SBA Communications Corporation makes up approx 0.03% of Bnp Paribas Investment Partners S.a.’s portfolio.Kanaly Trust Co boosted its stake in SBAC in the latest quarter, The investment management firm added 113 additional shares and now holds a total of 406 shares of SBA Communications Corporation which is valued at $45,947. SBA Communications Corporation makes up approx 0.01% of Kanaly Trust Co’s portfolio.Capstone Asset Management Co boosted its stake in SBAC in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 2,331 shares of SBA Communications Corporation which is valued at $261,282. SBA Communications Corporation makes up approx 0.01% of Capstone Asset Management Co’s portfolio. Cutler Group Lp sold out all of its stake in SBAC during the most recent quarter. The investment firm sold 72 shares of SBAC which is valued $8,070.

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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