What Smart Money Thinks of SBA Communications Corporation (SBAC)?

Consequently, key money managers have jumped into SBA Communications Corporation (NASDAQ:SBAC) headfirst. Folger Hill Asset Management, managed by Solomon Kumin, assembled the biggest position in SBA Communications Corporation (NASDAQ:SBAC). Folger Hill Asset Management had $22.6 million invested in the company at the end of September. James Dondero’s Highland Capital Management also made a $17.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Bain Capital’s Brookside Capital, Steve Cohen’s Point72 Asset Management, and George Hall’s Clinton Group.

Let’s check out hedge fund activity in other stocks similar to SBA Communications Corporation (NASDAQ:SBAC). We will take a look at McCormick & Company, Incorporated (NYSE:MKC), Spectra Energy Partners, LP (NYSE:SEP), Franco-Nevada Corporation (NYSE:FNV), and Fifth Third Bancorp (NASDAQ:FITB). This group of stocks’ market valuations resemble SBAC’s market valuation.

As you can see these stocks had an average of 17 investors with bullish positions and the average amount invested in these stocks was $234 million, which is significantly lower than the $2.36 billion in SBAC’s case. Fifth Third Bancorp (NASDAQ:FITB) is the most popular stock in this table, while Spectra Energy Partners, LP (NYSE:SEP) is the least popular one with only nine investors holding shares. Compared to these stocks, SBA Communications Corporation (NASDAQ:SBAC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.