SBA Communications (NASDAQ:SBAC) Cut to Hold at StockNews.com

SBA Communications (NASDAQ:SBAC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other equities research analysts have also recently issued reports on SBAC. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Barclays lowered their price objective on shares of SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target for the company. TD Cowen raised their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company dropped their target price on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $251.29.

SBA Communications Stock Up 1.1 %

Shares of SBAC traded up $2.26 during mid-day trading on Thursday, reaching $210.03. 485,434 shares of the company’s stock were exchanged, compared to its average volume of 741,171. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64. The company has a 50-day simple moving average of $202.64 and a two-hundred day simple moving average of $220.43. The company has a market cap of $22.58 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 0.73 and a beta of 0.69.

Insiders Place Their Bets

In other news, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This 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.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in SBA Communications by 15.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock valued at $78,000 after acquiring an additional 50 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after purchasing an additional 53 shares in the last quarter. Auxano Advisors LLC boosted its holdings in SBA Communications by 2.3% during the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after purchasing an additional 54 shares during the last quarter. Finally, DoubleLine ETF Adviser LP grew its position in SBA Communications by 0.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company’s stock valued at $1,577,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 97.35% 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.