SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Skylands Capital LLC

Skylands Capital LLC lifted its position in SBA Communications Co. (NASDAQ:SBAC) by 66.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,220 shares of the technology company’s stock after purchasing an additional 27,510 shares during the period. SBA Communications comprises about 2.0% of Skylands Capital LLC’s portfolio, making the stock its 13th biggest holding. Skylands Capital LLC owned about 0.06% of SBA Communications worth $14,107,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications in the 3rd quarter valued at $26,000. Evermay Wealth Management LLC acquired a new position in SBA Communications during the fourth quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in SBA Communications during the third quarter worth $35,000. Oakworth Capital Inc. raised its position in SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after acquiring an additional 144 shares during the period. Finally, Farther Finance Advisors LLC raised its position in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after acquiring an additional 53 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Wells Fargo & Company reduced their price objective 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. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Barclays reduced 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 report on Thursday. Finally, TD Cowen increased their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.29.

Insiders Place Their Bets

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction dated 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 directly owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

SBA Communications Price Performance

Shares of SBAC stock opened at $213.00 on Monday. The firm has a market cap of $22.90 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. The company has a 50-day moving average of $202.62 and a two-hundred day moving average of $220.41. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications 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.