Daiwa Securities Group Inc. Has $123.50 Million Holdings in SBA Communications Co. (SBAC)

Daiwa Securities Group Inc. boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 18,340.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 762,885 shares of the technology company’s stock after buying an additional 758,748 shares during the period. Daiwa Securities Group Inc.’s holdings in SBA Communications were worth $123,503,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Legacy Financial Advisors Inc. bought a new position in shares of SBA Communications in the 4th quarter valued at about $25,000. CWM LLC lifted its holdings in shares of SBA Communications by 49.2% in the 4th quarter. CWM LLC now owns 185 shares of the technology company’s stock valued at $30,000 after acquiring an additional 61 shares during the last quarter. We Are One Seven LLC bought a new position in shares of SBA Communications in the 4th quarter valued at about $34,000. Private Capital Group LLC lifted its holdings in shares of SBA Communications by 38.7% in the 4th quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock valued at $37,000 after acquiring an additional 63 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of SBA Communications by 19.7% in the 4th quarter. IFP Advisors Inc now owns 571 shares of the technology company’s stock valued at $93,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 94.07% of the company’s stock.

Shares of NASDAQ SBAC opened at $183.22 on Monday. SBA Communications Co. has a 1 year low of $146.13 and a 1 year high of $184.74.

SBAC has been the subject of a number of analyst reports. ValuEngine downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Guggenheim set a $180.00 price target on shares of SBA Communications and gave the company a “buy” rating in a report on Wednesday, October 17th. Citigroup increased their price target on shares of SBA Communications from $187.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, November 6th. Bank of America set a $189.00 price target on shares of SBA Communications and gave the company a “buy” rating in a report on Thursday, November 15th. Finally, BidaskClub raised shares of SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 11th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. SBA Communications currently has an average rating of “Buy” and an average target price of $181.22.

In other SBA Communications news, Director Kevin L. Beebe sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 21,726 shares of the company’s stock, valued at $3,747,952.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brendan Thomas Cavanagh sold 140,017 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $172.12, for a total transaction of $24,099,726.04. Following the completion of the sale, the chief financial officer now directly owns 81,810 shares of the company’s stock, valued at approximately $14,081,137.20. The disclosure for this sale can be found here. In the last three months, insiders sold 406,060 shares of company stock valued at $69,939,407. 2.70% of the stock is owned by insiders.

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SBA Communications Profile

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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