Savant Capital LLC Sells 11,087 Shares of SBA Communications Corporation $SBAC

Savant Capital LLC reduced its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 62.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,563 shares of the technology company’s stock after selling 11,087 shares during the quarter. Savant Capital LLC’s holdings in SBA Communications were worth $1,269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SBAC. Atlantic Union Bankshares Corp boosted its position in shares of SBA Communications by 1,250.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 486 shares of the technology company’s stock valued at $94,000 after acquiring an additional 450 shares during the last quarter. AGF Management Ltd. purchased a new stake in SBA Communications in the third quarter valued at approximately $2,911,000. Jones Financial Companies Lllp lifted its position in SBA Communications by 36.6% during the third quarter. Jones Financial Companies Lllp now owns 381 shares of the technology company’s stock valued at $74,000 after purchasing an additional 102 shares during the last quarter. Gitterman Wealth Management LLC grew its stake in SBA Communications by 34.3% in the 3rd quarter. Gitterman Wealth Management LLC now owns 1,589 shares of the technology company’s stock worth $307,000 after buying an additional 406 shares in the last quarter. Finally, Berman McAleer LLC bought a new position in shares of SBA Communications in the 3rd quarter worth $742,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their price target on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. Barclays decreased their price objective on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. JPMorgan Chase & Co. cut their target price on SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. UBS Group decreased their price target on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. Finally, BMO Capital Markets lowered their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.18.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $184.63 on Tuesday. SBA Communications Corporation has a fifty-two week low of $177.49 and a fifty-two week high of $245.16. The firm has a market cap of $19.67 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 1.71 and a beta of 0.87. The business has a 50 day moving average price of $188.49 and a 200-day moving average price of $197.54.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.