Legacy Capital Wealth Partners LLC Decreases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Legacy Capital Wealth Partners LLC decreased its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 51.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,692 shares of the technology company's stock after selling 1,805 shares during the period. Legacy Capital Wealth Partners LLC's holdings in SBA Communications were worth $345,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SBAC. Exchange Traded Concepts LLC grew its stake in SBA Communications by 15.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company's stock valued at $78,000 after acquiring an additional 50 shares in the last quarter. Farther Finance Advisors LLC grew its stake in 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 acquiring an additional 53 shares in the last quarter. Versant Capital Management Inc grew its stake in SBA Communications by 17.3% during the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after acquiring an additional 53 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in SBA Communications by 1.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company's stock valued at $1,086,000 after acquiring an additional 64 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in SBA Communications by 23.7% during the third quarter. Venturi Wealth Management LLC now owns 339 shares of the technology company's stock valued at $82,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Trading Up 0.7 %

Shares of SBAC traded up $1.37 during mid-day trading on Wednesday, reaching $207.77. The company's stock had a trading volume of 696,763 shares, compared to its average volume of 749,164. The stock has a market cap of $22.34 billion, a PE ratio of 32.77, a P/E/G ratio of 0.73 and a beta of 0.69. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The company's fifty day moving average price is $202.77 and its two-hundred day moving average price is $220.50.

Insider Transactions at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications 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 transaction, the executive vice president now directly owns 33,588 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Day sold 2,321 shares of SBA Communications 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 transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SBAC. Barclays reduced their price objective on shares of SBA Communications from $257.00 to $254.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. StockNews.com upgraded shares of SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. BMO Capital Markets reiterated a "market perform" rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. TD Cowen lifted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Finally, Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.29.

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.