SBA Communications (NASDAQ:SBAC – Get Free Report) had its target price boosted by stock analysts at Citigroup from $250.00 to $265.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 8.87% from the stock’s current price.
A number of other equities research analysts have also weighed in on the stock. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, April 18th. JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. 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 target on the stock. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company upped their price target on shares of SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $252.38.
Get Our Latest Stock Analysis on SBAC
SBA Communications Price Performance
Insider Buying and Selling
In related news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction 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. This represents a 26.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.92% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of SBAC. Independence Bank of Kentucky purchased a new stake in SBA Communications during the 1st quarter valued at about $28,000. Evermay Wealth Management LLC purchased a new stake in SBA Communications during the 4th quarter valued at about $27,000. Graney & King LLC purchased a new stake in SBA Communications during the 4th quarter valued at about $29,000. Allworth Financial LP grew its stake in SBA Communications by 62.0% during the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company’s stock valued at $36,000 after acquiring an additional 62 shares in the last quarter. Finally, NBC Securities Inc. grew its stake in SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company’s stock valued at $44,000 after acquiring an additional 189 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.
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