SBA Communications Co. (NASDAQ:SBAC) reached a new 52-week high on Monday . The company traded as high as $184.98 and last traded at $183.63, with a volume of 13290 shares. The stock had previously closed at $183.22.
A number of equities research analysts have weighed in on SBAC shares. Citigroup upgraded SBA Communications from a “neutral” rating to a “buy” rating and upped their target price for the stock from $175.00 to $187.00 in a research report on Wednesday, October 31st. Bank of America set a $189.00 target price on SBA Communications and gave the stock a “buy” rating in a research report on Thursday, November 15th. ValuEngine downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. BidaskClub downgraded SBA Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 28th. Finally, Guggenheim set a $180.00 target price on SBA Communications and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. SBA Communications currently has a consensus rating of “Buy” and a consensus price target of $181.22.
In other news, VP Thomas P. Hunt sold 79,908 shares of SBA Communications stock in a transaction on Monday, November 19th. The shares were sold at an average price of $172.47, for a total transaction of $13,781,732.76. Following the transaction, the vice president now directly owns 133,652 shares of the company’s stock, valued at $23,050,960.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kevin L. Beebe sold 10,000 shares of SBA Communications stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $172.51, for a total transaction of $1,725,100.00. Following the transaction, the director now directly owns 21,726 shares in the company, valued at $3,747,952.26. The disclosure for this sale can be found here. Insiders sold 406,060 shares of company stock valued at $69,939,407 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.
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About SBA Communications (NASDAQ:SBAC)
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. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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