Kentucky Retirement Systems Sells 102 Shares of SBA Communications Co. (NASDAQ:SBAC)

Kentucky Retirement Systems reduced its holdings in SBA Communications Co. (NASDAQ:SBAC) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,385 shares of the technology company’s stock after selling 102 shares during the quarter. Kentucky Retirement Systems’ holdings in SBA Communications were worth $1,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in shares of SBA Communications by 3.1% in the 4th quarter. Handelsbanken Fonder AB now owns 66,433 shares of the technology company’s stock worth $13,539,000 after purchasing an additional 2,025 shares in the last quarter. Ieq Capital LLC boosted its holdings in shares of SBA Communications by 466.2% in the 4th quarter. Ieq Capital LLC now owns 24,402 shares of the technology company’s stock worth $4,973,000 after purchasing an additional 20,092 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of SBA Communications by 118.9% in the 4th quarter. Venturi Wealth Management LLC now owns 742 shares of the technology company’s stock worth $151,000 after purchasing an additional 403 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of SBA Communications by 4.7% in the 4th quarter. CIBC Asset Management Inc now owns 16,408 shares of the technology company’s stock worth $3,344,000 after purchasing an additional 735 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in shares of SBA Communications by 31.7% in the 4th quarter. Sanctuary Advisors LLC now owns 7,471 shares of the technology company’s stock worth $1,488,000 after purchasing an additional 1,799 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SBAC shares. Citizens Jmp upgraded SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities initiated coverage on SBA Communications in a report on Monday, January 27th. They set an “outperform” rating and a $250.00 target price for the company. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. TD Cowen increased their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company dropped their target price on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Five research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.29.

SBA Communications Price Performance

SBAC opened at $213.00 on Monday. The business has a 50 day simple moving average of $202.62 and a two-hundred day simple moving average of $220.41. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 0.74 and a beta of 0.69. SBA Communications Co. has a one year low of $183.64 and a one 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.