SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 118.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 742 shares of the technology company’s stock after acquiring an additional 403 shares during the quarter. Venturi Wealth Management LLC’s holdings in SBA Communications were worth $151,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SBAC. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications in the 3rd quarter worth $26,000. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications in the 4th quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications in the 3rd quarter worth $35,000. Oakworth Capital Inc. grew its holdings in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after buying an additional 144 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $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 available at this link. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were 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 in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $213.00 on Friday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The business has a 50-day moving average of $202.62 and a two-hundred day moving average of $220.37. The stock has a market capitalization of $22.90 billion, a P/E ratio of 33.60, a P/E/G ratio of 0.74 and a beta of 0.69.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SBAC. Barclays lowered their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. Finally, Raymond James lifted their price target on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus target price of $251.29.

About SBA Communications

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.