Amalgamated Bank Sells 47 Shares of SBA Communications Co. (NASDAQ:SBAC)

Amalgamated Bank decreased its position in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,492 shares of the technology company’s stock after selling 47 shares during the period. Amalgamated Bank’s holdings in SBA Communications were worth $5,503,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in SBA Communications by 14.4% in the second quarter. Envestnet Asset Management Inc. now owns 204,550 shares of the technology company’s stock worth $47,406,000 after acquiring an additional 25,783 shares in the last quarter. Van ECK Associates Corp lifted its stake in SBA Communications by 3.4% in the second quarter. Van ECK Associates Corp now owns 21,743 shares of the technology company’s stock worth $5,039,000 after purchasing an additional 721 shares during the last quarter. Covestor Ltd lifted its stake in SBA Communications by 218.6% in the second quarter. Covestor Ltd now owns 188 shares of the technology company’s stock worth $44,000 after purchasing an additional 129 shares during the last quarter. ProShare Advisors LLC lifted its stake in SBA Communications by 1.3% in the second quarter. ProShare Advisors LLC now owns 31,559 shares of the technology company’s stock worth $7,314,000 after purchasing an additional 401 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in SBA Communications by 3.2% in the second quarter. Yousif Capital Management LLC now owns 18,897 shares of the technology company’s stock worth $4,380,000 after purchasing an additional 591 shares during the last quarter. Hedge funds and other institutional investors own 92.48% of the company’s stock.

SBA Communications Stock Up 0.5 %

Shares of SBAC stock opened at $218.60 on Wednesday. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 1.12 and a beta of 0.58. The company’s 50 day moving average is $241.88 and its 200 day moving average is $224.87. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $295.62.

Insider Activity at SBA Communications

In related news, CAO Brian D. Lazarus sold 20,605 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $249.35, for a total transaction of $5,137,856.75. Following the transaction, the chief accounting officer now directly owns 7,085 shares in the company, valued at approximately $1,766,644.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other SBA Communications news, Director Kevin L. Beebe sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $233.83, for a total value of $350,745.00. Following the completion of the sale, the director now owns 13,313 shares of the company’s stock, valued at $3,112,978.79. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Brian D. Lazarus sold 20,605 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $249.35, for a total value of $5,137,856.75. Following the completion of the sale, the chief accounting officer now directly owns 7,085 shares of the company’s stock, valued at approximately $1,766,644.75. The disclosure for this sale can be found here. Insiders have sold a total of 175,089 shares of company stock valued at $42,590,345 over the last ninety days. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SBAC has been the subject of several analyst reports. BMO Capital Markets raised shares of SBA Communications from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $245.00 to $285.00 in a research note on Friday, December 15th. Barclays raised their price objective on shares of SBA Communications from $251.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Morgan Stanley decreased their price objective on shares of SBA Communications from $311.00 to $227.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. KeyCorp lifted their price target on shares of SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. Finally, Citigroup decreased their price target on shares of SBA Communications from $260.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $279.31.

Check Out Our Latest Stock Report on SBA Communications

About SBA Communications

(Free Report)

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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.

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

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