Avestar Capital LLC Buys New Stake in SBA Communications Co. (NASDAQ:SBAC)

Avestar Capital LLC purchased a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, HoldingsChannel reports. The fund purchased 1,095 shares of the technology company’s stock, valued at approximately $223,000.

Several other institutional investors have also bought and sold shares of SBAC. CWM LLC raised its position in shares of SBA Communications by 4.3% during the 3rd quarter. CWM LLC now owns 3,079 shares of the technology company’s stock valued at $741,000 after buying an additional 127 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in SBA Communications during the third quarter worth approximately $80,000. Creative Planning raised 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 valued at $2,163,000 after purchasing an additional 1,850 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of SBA Communications by 6.5% in the 3rd 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 during the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of SBA Communications in the 3rd quarter worth approximately $261,000. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the topic of several recent research reports. TD Cowen increased their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. JMP Securities assumed coverage on shares of SBA Communications in a report on Monday, January 27th. They issued an “outperform” rating and a $250.00 target price for the company. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Raymond James raised their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $252.29.

SBA Communications Trading Down 1.3 %

Shares of SBA Communications stock opened at $205.37 on Friday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The stock’s fifty day moving average price is $203.51 and its 200-day moving average price is $220.88. The firm has a market cap of $22.08 billion, a P/E ratio of 32.39, a P/E/G ratio of 0.73 and a beta of 0.69.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications 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.