SBA Communications (NASDAQ:SBAC) Lowered to “Hold” Rating by StockNews.com

SBA Communications (NASDAQ:SBACGet Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research firms also recently weighed in on SBAC. BMO Capital Markets restated a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Raymond James raised their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company dropped their price target on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. TD Cowen boosted their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average price target of $251.29.

View Our Latest Research Report on SBA Communications

SBA Communications Trading Up 1.1 %

SBA Communications stock traded up $2.26 during trading hours on Thursday, reaching $210.03. 485,434 shares of the stock were exchanged, compared to its average volume of 741,171. The stock has a 50 day moving average of $202.64 and a two-hundred day moving average of $220.43. SBA Communications has a twelve month low of $183.64 and a twelve month high of $252.64. The company has a market cap of $22.58 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 0.73 and a beta of 0.69.

Insider Activity

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

Institutional Investors Weigh In On SBA Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank grew its stake in SBA Communications by 6.7% in the fourth quarter. Toronto Dominion Bank now owns 68,763 shares of the technology company’s stock worth $14,014,000 after purchasing an additional 4,330 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of SBA Communications by 39.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,100,724 shares of the technology company’s stock valued at $224,328,000 after purchasing an additional 312,125 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in SBA Communications by 1.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 898,360 shares of the technology company’s stock valued at $183,086,000 after buying an additional 11,976 shares during the period. Woodline Partners LP bought a new position in SBA Communications in the fourth quarter worth approximately $5,693,000. Finally, Sone Capital Management LLC purchased a new stake in SBA Communications during the fourth quarter worth $1,905,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for SBA Communications (NASDAQ:SBAC)

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