SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Washington Capital Management Inc.

Washington Capital Management Inc. cut its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,010 shares of the technology company’s stock after selling 70 shares during the period. SBA Communications accounts for 0.8% of Washington Capital Management Inc.’s investment portfolio, making the stock its 25th largest holding. Washington Capital Management Inc.’s holdings in SBA Communications were worth $1,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in SBA Communications during the 3rd quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications during the 3rd quarter worth approximately $35,000. Friedenthal Financial purchased a new position in SBA Communications in the 3rd quarter valued at approximately $50,000. Farther Finance Advisors LLC raised its position in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after acquiring an additional 53 shares during the last quarter. Finally, CKW Financial Group purchased a new stake in shares of SBA Communications in the fourth quarter valued at $56,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on SBAC shares. JMP Securities initiated coverage on SBA Communications in a report on Monday. They issued an “outperform” rating and a $250.00 price target for the company. Raymond James raised their price objective on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets restated a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Four equities research 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. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average price target of $252.29.

SBA Communications Stock Performance

SBAC opened at $198.10 on Thursday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The company has a market capitalization of $21.30 billion, a P/E ratio of 31.25, a P/E/G ratio of 0.70 and a beta of 0.69. The stock has a fifty day moving average of $208.75 and a 200-day moving average of $221.74.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. SBA Communications’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.34 earnings per share. On average, equities research analysts predict that SBA Communications Co. will post 12.57 earnings per share for the current fiscal year.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The shares were 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 approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of the 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 owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

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.