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

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

SBAC has been the subject of a number of other research reports. Morgan Stanley assumed coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. JMP Securities began coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Wells Fargo & Company increased their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $251.92.

SBA Communications Stock Up 1.5 %

Shares of NASDAQ:SBAC opened at $229.06 on Friday. SBA Communications has a 52-week low of $183.64 and a 52-week high of $252.64. The stock has a market cap of $24.65 billion, a P/E ratio of 36.13, a PEG ratio of 0.74 and a beta of 0.83. The business has a fifty day moving average of $216.91 and a two-hundred day moving average of $217.24.

Insider Buying and Selling

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oak Thistle LLC raised its position in 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 purchasing an additional 2,863 shares in the last quarter. 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. First Hawaiian Bank lifted its stake in SBA Communications by 91.0% in the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SBA Communications by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock worth $266,675,000 after acquiring an additional 38,725 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of SBA Communications by 49.3% in the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock valued at $141,205,000 after purchasing an additional 226,878 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

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.