Wilmington Savings Fund Society FSB Increases Holdings in SBA Communications Co. (NASDAQ:SBAC)

Wilmington Savings Fund Society FSB raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,682 shares of the technology company’s stock after purchasing an additional 109 shares during the period. Wilmington Savings Fund Society FSB’s holdings in SBA Communications were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SBAC. Victory Capital Management Inc. increased its stake in shares of SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after buying an additional 1,174,469 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. KBC Group NV lifted its position in shares of SBA Communications by 212.3% in the 4th quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock worth $83,562,000 after purchasing an additional 278,737 shares during the period. Finally, Barclays PLC boosted its stake in shares of SBA Communications by 71.0% during the third quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock valued at $158,386,000 after purchasing an additional 273,237 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SBAC shares. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company reduced their price target on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Barclays cut their target price on SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.29.

Insider Buying and Selling at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on 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 directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, 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. Company insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $209.24 on Wednesday. The firm has a market capitalization of $22.50 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 0.73 and a beta of 0.69. The company’s fifty day moving average price is $204.60 and its 200-day moving average price is $221.18. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

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.