Janney Montgomery Scott LLC Boosts Holdings in SBA Communications Co. (NASDAQ:SBAC)

Janney Montgomery Scott LLC lifted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 35.5% in the fourth quarter, HoldingsChannel reports. The firm owned 5,476 shares of the technology company’s stock after buying an additional 1,435 shares during the quarter. Janney Montgomery Scott LLC’s holdings in SBA Communications were worth $1,116,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SBAC. Oak Thistle LLC boosted its stake in shares of SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after buying an additional 2,863 shares during the period. Czech National Bank raised its holdings in SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after acquiring an additional 1,421 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after acquiring an additional 249,610 shares during the last quarter. First Hawaiian Bank grew its holdings in SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after acquiring an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $203.48 on Thursday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The stock has a market cap of $21.88 billion, a P/E ratio of 32.09, a P/E/G ratio of 0.70 and a beta of 0.69. The firm has a fifty day moving average price of $206.31 and a 200 day moving average price of $221.27.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of analyst reports. Raymond James boosted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. KeyCorp upped their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Barclays cut their price objective on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.29.

Insider Activity

In other SBA Communications news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

About SBA Communications

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.