SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in SBA Communications Co. (NASDAQ:SBACFree Report) by 0.2% in the third quarter, HoldingsChannel.com reports. The firm owned 27,492 shares of the technology company’s stock after selling 47 shares during the quarter. Amalgamated Bank’s holdings in SBA Communications were worth $5,503,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Carolinas Wealth Consulting LLC raised its position in SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after acquiring an additional 62 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of SBA Communications in the fourth quarter valued at $31,000. Ancora Advisors LLC increased its position in shares of SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after buying an additional 62 shares in the last quarter. Emerald Advisers LLC purchased a new stake in SBA Communications during the 3rd quarter worth about $31,000. Finally, First Horizon Advisors Inc. increased its position in SBA Communications by 280.4% during the 1st quarter. First Horizon Advisors Inc. now owns 175 shares of the technology company’s stock worth $46,000 after purchasing an additional 129 shares in the last quarter. 92.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In other news, Chairman Steven E. Bernstein sold 46,076 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $250.10, for a total transaction of $11,523,607.60. Following the completion of the sale, the chairman now owns 56,314 shares in the company, valued at approximately $14,084,131.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Steven E. Bernstein sold 46,076 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $250.10, for a total transaction of $11,523,607.60. Following the completion of the sale, the chairman now owns 56,314 shares in the company, valued at approximately $14,084,131.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Brian D. Lazarus sold 20,605 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $249.35, for a total value of $5,137,856.75. Following the sale, the chief accounting officer now owns 7,085 shares of the company’s stock, valued at approximately $1,766,644.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,089 shares of company stock worth $42,590,345. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on SBAC. KeyCorp raised their price target on SBA Communications from $251.00 to $276.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 6th. BMO Capital Markets upgraded SBA Communications from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $245.00 to $285.00 in a report on Friday, December 15th. Barclays lifted their price objective on SBA Communications from $251.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Wells Fargo & Company lowered their price target on SBA Communications from $270.00 to $245.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Finally, Citigroup reduced their price objective on SBA Communications from $260.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $279.31.

Get Our Latest Stock Analysis on SBA Communications

SBA Communications Price Performance

Shares of SBAC stock opened at $218.60 on Wednesday. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $295.62. The stock’s 50-day moving average is $241.88 and its two-hundred day moving average is $224.87. The firm has a market cap of $23.58 billion, a P/E ratio of 48.15, a PEG ratio of 1.12 and a beta of 0.58.

SBA Communications Profile

(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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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