TCW Group Inc. Purchases 17,236 Shares of SBA Communications Co. (NASDAQ:SBAC)

TCW Group Inc. raised its position in SBA Communications Co. (NASDAQ:SBAC) by 118.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,798 shares of the technology company’s stock after buying an additional 17,236 shares during the quarter. TCW Group Inc.’s holdings in SBA Communications were worth $6,480,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBAC. Creative Planning increased its position in SBA Communications by 25.9% during the third quarter. Creative Planning now owns 8,985 shares of the technology company’s stock worth $2,163,000 after acquiring an additional 1,850 shares during the period. Greenleaf Trust grew its position in shares of SBA Communications by 6.1% during the 3rd quarter. Greenleaf Trust now owns 1,359 shares of the technology company’s stock worth $327,000 after purchasing an additional 78 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of SBA Communications by 219,537.5% during the third quarter. International Assets Investment Management LLC now owns 35,142 shares of the technology company’s stock worth $8,459,000 after purchasing an additional 35,126 shares during the period. Assenagon Asset Management S.A. raised its position in shares of SBA Communications by 1.4% in the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after buying an additional 64 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of SBA Communications in the third quarter valued at approximately $231,000. Institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SBAC shares. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Raymond James raised their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, TD Cowen upped their price target on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $251.29.

Insiders Place Their Bets

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 2,321 shares of the firm’s 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 transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC opened at $213.00 on Monday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The stock has a market capitalization of $22.90 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 0.74 and a beta of 0.69. The stock has a fifty day moving average of $202.62 and a 200-day moving average of $220.41.

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.