Louisiana State Employees Retirement System Has $1.18 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Louisiana State Employees Retirement System lowered its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,800 shares of the technology company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in SBA Communications were worth $1,182,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SBAC. Exchange Traded Concepts LLC acquired a new stake in SBA Communications in the 3rd quarter valued at approximately $80,000. Creative Planning grew its stake in SBA Communications by 25.9% in the third quarter. Creative Planning now owns 8,985 shares of the technology company’s stock valued at $2,163,000 after purchasing an additional 1,850 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in SBA Communications by 6.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,246 shares of the technology company’s stock valued at $2,948,000 after purchasing an additional 748 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in SBA Communications in the third quarter valued at approximately $261,000. Finally, Friedenthal Financial bought a new position in shares of SBA Communications during the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred on Monday, December 9th. The stock was 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 directly owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

NASDAQ:SBAC opened at $205.37 on Monday. The firm has a 50-day moving average of $203.51 and a 200-day moving average of $220.90. The company has a market cap of $22.08 billion, a PE ratio of 32.39, a PEG ratio of 0.73 and a beta of 0.69. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SBAC. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Raymond James lifted their price objective on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. JMP Securities started coverage on SBA Communications in a research report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price on the stock. Wells Fargo & Company lowered 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. Finally, Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus target price of $252.29.

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.