Stevens Capital Management LP Decreases Stock Holdings in SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Stevens Capital Management LP has significantly reduced its stake in SBA Communications Corporation by 77.3%, owning 2,142 shares valued at $471,000 after selling 7,303 shares in the 1st quarter.
• Insider trading saw Director Jack Langer sell 5,000 shares for approximately $1.2 million, resulting in a 32.21% decrease in his ownership stake.
• Analysts have mixed ratings on SBA Communications, with eight rating the stock as "buy" while the average price target is $257.19, reflecting a "Moderate Buy" consensus.

Stevens Capital Management LP trimmed its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 77.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,142 shares of the technology company's stock after selling 7,303 shares during the period. Stevens Capital Management LP's holdings in SBA Communications were worth $471,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SBAC. Independence Bank of Kentucky acquired a new stake in SBA Communications during the 1st quarter worth approximately $28,000. Allworth Financial LP increased its holdings in shares of SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after purchasing an additional 62 shares during the period. NBC Securities Inc. boosted its position in shares of SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock valued at $44,000 after purchasing an additional 189 shares during the period. Wayfinding Financial LLC acquired a new stake in SBA Communications during the 1st quarter worth about $51,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of SBA Communications by 22.0% during the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after buying an additional 45 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a report on Tuesday, May 20th. Wall Street Zen downgraded SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Bank of America started coverage on SBA Communications in a research note on Monday, May 19th. They issued a "buy" rating and a $260.00 price target for the company. JMP Securities raised their price objective on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley lifted their price target on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 22nd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus price target of $257.19.

Insider Buying and Selling at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the transaction, the director directly owned 10,522 shares of the company's stock, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company's stock.

SBA Communications Price Performance

Shares of SBA Communications stock traded up $1.35 during trading on Wednesday, reaching $230.27. 201,091 shares of the stock traded hands, compared to its average volume of 852,152. SBA Communications Corporation has a 52-week low of $192.55 and a 52-week high of $252.64. The business has a fifty day simple moving average of $231.43 and a two-hundred day simple moving average of $222.14. The company has a market capitalization of $24.74 billion, a price-to-earnings ratio of 31.58, a P/E/G ratio of 1.88 and a beta of 0.78.

SBA Communications Company 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.