Evermay Wealth Management LLC Invests $27,000 in SBA Communications Co. (NASDAQ:SBAC)

Evermay Wealth Management LLC purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 132 shares of the technology company’s stock, valued at approximately $27,000.

A number of other hedge funds have also recently added to or reduced their stakes in SBAC. Clear Creek Financial Management LLC acquired a new stake in shares of SBA Communications in the 4th quarter valued at approximately $212,000. Custom Index Systems LLC purchased a new position in SBA Communications in the fourth quarter worth $219,000. Caprock Group LLC acquired a new stake in SBA Communications in the fourth quarter valued at $230,000. Fortune Financial Advisors LLC boosted its position in shares of SBA Communications by 7.7% during the 4th quarter. Fortune Financial Advisors LLC now owns 1,934 shares of the technology company’s stock worth $394,000 after purchasing an additional 139 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in shares of SBA Communications by 22.9% during the 4th quarter. Hantz Financial Services Inc. now owns 28,129 shares of the technology company’s stock worth $5,733,000 after purchasing an additional 5,236 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. KeyCorp lifted their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. 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 report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $252.29.

SBA Communications Stock Performance

Shares of SBAC opened at $197.56 on Friday. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 0.70 and a beta of 0.69. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The company’s 50 day simple moving average is $207.46 and its 200 day simple moving average is $221.33.

Insiders Place Their Bets

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.