Mirae Asset Global Investments Co. Ltd. Purchases 2,289 Shares of SBA Communications Co. (NASDAQ:SBAC)

Mirae Asset Global Investments Co. Ltd. grew its position in SBA Communications Co. (NASDAQ:SBAC) by 21.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,013 shares of the technology company’s stock after buying an additional 2,289 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in SBA Communications were worth $2,645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in SBA Communications during the 2nd quarter worth about $932,000. Atomi Financial Group Inc. bought a new stake in shares of SBA Communications during the third quarter worth approximately $312,000. CWM LLC lifted its holdings in SBA Communications by 4.3% in the third quarter. CWM LLC now owns 3,079 shares of the technology company’s stock valued at $741,000 after buying an additional 127 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in SBA Communications by 278.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 852 shares of the technology company’s stock valued at $205,000 after acquiring an additional 627 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in SBA Communications during the 3rd quarter worth $80,000. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBAC. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. KeyCorp increased their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Wells Fargo & Company cut their price target on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Raymond James boosted their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $252.29.

SBA Communications Price Performance

SBAC opened at $205.82 on Monday. The company has a market capitalization of $22.13 billion, a price-to-earnings ratio of 32.46, a P/E/G ratio of 0.73 and a beta of 0.69. The business’s 50-day moving average price is $204.93 and its two-hundred day moving average price is $221.11. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

SBA Communications Company Profile

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.