SBA Communications Co. (SBAC) Holdings Cut by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt decreased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 43.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,034 shares of the technology company’s stock after selling 800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in SBA Communications were worth $166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in shares of SBA Communications during the second quarter valued at approximately $115,000. FNY Investment Advisers LLC bought a new stake in shares of SBA Communications during the second quarter valued at approximately $165,000. HRT Financial LLC bought a new stake in shares of SBA Communications during the second quarter valued at approximately $201,000. Dupont Capital Management Corp increased its holdings in shares of SBA Communications by 71.6% during the second quarter. Dupont Capital Management Corp now owns 1,227 shares of the technology company’s stock valued at $203,000 after acquiring an additional 512 shares in the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of SBA Communications during the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 94.68% of the company’s stock.

Several research firms have recently commented on SBAC. BidaskClub upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. Citigroup upgraded SBA Communications from a “neutral” rating to a “buy” rating and upped their price target for the stock from $175.00 to $187.00 in a report on Wednesday. Guggenheim set a $180.00 price target on SBA Communications and gave the stock a “buy” rating in a report on Wednesday, October 17th. ValuEngine upgraded SBA Communications from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Finally, Macquarie decreased their price target on SBA Communications from $166.00 to $161.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. SBA Communications currently has a consensus rating of “Buy” and a consensus price target of $179.30.

Shares of SBA Communications stock opened at $164.87 on Friday. SBA Communications Co. has a 12-month low of $146.13 and a 12-month high of $177.67.

In related news, Director Brian C. Carr sold 800 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $155.00, for a total transaction of $124,000.00. Following the completion of the sale, the director now owns 3,070 shares in the company, valued at $475,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Stoops sold 40,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $154.16, for a total value of $6,166,400.00. Following the sale, the chief executive officer now owns 268,756 shares of the company’s stock, valued at approximately $41,431,424.96. The disclosure for this sale can be found here. Insiders have sold 80,805 shares of company stock valued at $12,693,203 in the last quarter. 2.70% of the stock is currently owned by corporate insiders.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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