TCW Group Inc. Purchases 17,236 Shares of SBA Communications Co. (NASDAQ:SBAC)

TCW Group Inc. raised its position in SBA Communications Co. (NASDAQ:SBAC) by 118.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 31,798 shares of the technology company’s stock after purchasing an additional 17,236 shares during the period. TCW Group Inc.’s holdings in SBA Communications were worth $6,480,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. 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 worth $78,000 after purchasing an additional 50 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares in the last quarter. Versant Capital Management Inc grew its position in shares of SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after buying an additional 53 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of SBA Communications by 1.4% in the 3rd 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 lifted its position in shares of SBA Communications by 23.7% during the 3rd 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 during the period. 97.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SBAC shares. JMP Securities started coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target for the company. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. TD Cowen raised their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company lowered their target price on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $251.29.

SBA Communications Price Performance

Shares of SBAC stock opened at $213.00 on Monday. The firm has a 50-day moving average of $202.62 and a 200-day moving average of $220.41. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The company has a market cap 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.

Insiders Place Their Bets

In other news, EVP Donald Day sold 2,321 shares of the company’s 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 directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction 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 sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

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.