Virtus Alternative Investment Advisers Inc. Sells 219 Shares of SBA Communications Co. (SBAC)

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Virtus Alternative Investment Advisers Inc. decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 27.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 578 shares of the technology company’s stock after selling 219 shares during the quarter. Virtus Alternative Investment Advisers Inc.’s holdings in SBA Communications were worth $94,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SBAC. Daiwa Securities Group Inc. increased its stake in SBA Communications by 18,340.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 762,885 shares of the technology company’s stock worth $123,503,000 after acquiring an additional 758,748 shares during the last quarter. Capital Research Global Investors increased its stake in SBA Communications by 98.5% during the third quarter. Capital Research Global Investors now owns 1,369,807 shares of the technology company’s stock worth $220,032,000 after acquiring an additional 679,663 shares during the last quarter. Commonwealth Bank of Australia increased its stake in SBA Communications by 330,152.8% during the third quarter. Commonwealth Bank of Australia now owns 531,707 shares of the technology company’s stock worth $85,078,000 after acquiring an additional 531,546 shares during the last quarter. Cohen & Steers Inc. increased its stake in SBA Communications by 225.0% during the third quarter. Cohen & Steers Inc. now owns 688,563 shares of the technology company’s stock worth $110,604,000 after acquiring an additional 476,722 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in SBA Communications by 2.1% during the third quarter. Vanguard Group Inc now owns 18,461,664 shares of the technology company’s stock worth $2,965,496,000 after acquiring an additional 380,936 shares during the last quarter. 93.37% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on the company. KeyCorp raised their target price on SBA Communications from $176.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 12th. Zacks Investment Research cut SBA Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. BidaskClub raised SBA Communications from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 11th. ValuEngine raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 21st. Finally, Citigroup lifted their price objective on SBA Communications from $187.00 to $192.00 and gave the company a “buy” rating in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. SBA Communications has an average rating of “Buy” and a consensus price target of $182.00.

In related news, SVP Brian D. Lazarus sold 15,875 shares of SBA Communications stock in a transaction on Friday, December 14th. The stock was sold at an average price of $173.00, for a total value of $2,746,375.00. Following the completion of the transaction, the senior vice president now directly owns 26,423 shares in the company, valued at $4,571,179. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kevin L. Beebe sold 10,000 shares of SBA Communications stock in a transaction on Thursday, December 13th. The shares were sold at an average price of $172.51, for a total value of $1,725,100.00. Following the completion of the transaction, the director now owns 21,726 shares of the company’s stock, valued at $3,747,952.26. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Shares of NASDAQ SBAC traded down $1.31 during trading on Thursday, reaching $181.68. The stock had a trading volume of 15,604 shares, compared to its average volume of 623,918. SBA Communications Co. has a fifty-two week low of $146.13 and a fifty-two week high of $186.35.

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About SBA Communications

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By ?Building Better Wireless,? SBA generates revenue from two primary businesses ? site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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