Van ECK Associates Corp Purchases 1,005 Shares of SBA Communications Co. (NASDAQ:SBAC)

Van ECK Associates Corp boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,649 shares of the technology company’s stock after purchasing an additional 1,005 shares during the period. Van ECK Associates Corp’s holdings in SBA Communications were worth $5,431,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in SBA Communications during the 3rd quarter valued at about $26,000. Evermay Wealth Management LLC purchased a new position in SBA Communications during the fourth quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new stake in SBA Communications during the 3rd quarter worth approximately $35,000. Oakworth Capital Inc. lifted its stake in SBA Communications by 161.8% in the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the period. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

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

Analysts Set New Price Targets

A number of brokerages have weighed in on SBAC. TD Cowen upped their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Raymond James raised their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $252.29.

SBA Communications Trading Up 0.5 %

Shares of SBAC opened at $206.40 on Wednesday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The business’s 50 day moving average is $203.15 and its 200 day moving average is $220.76. The company has a market capitalization of $22.19 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 0.73 and a beta of 0.69.

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.