Connable Office Inc. trimmed its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,348 shares of the technology company’s stock after selling 304 shares during the quarter. Connable Office Inc.’s holdings in SBA Communications were worth $384,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank raised its position in shares of SBA Communications by 9.5% during the second quarter. Toronto Dominion Bank now owns 1,487 shares of the technology company’s stock worth $201,000 after acquiring an additional 129 shares during the last quarter. State Treasurer State of Michigan bought a new position in shares of SBA Communications during the third quarter worth about $5,258,000. Oakbrook Investments LLC bought a new position in shares of SBA Communications during the third quarter worth about $828,000. GSA Capital Partners LLP raised its position in shares of SBA Communications by 198.3% during the third quarter. GSA Capital Partners LLP now owns 5,530 shares of the technology company’s stock worth $797,000 after acquiring an additional 3,676 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of SBA Communications by 26,162.1% during the third quarter. New York State Teachers Retirement System now owns 183,835 shares of the technology company’s stock worth $26,481,000 after acquiring an additional 183,135 shares during the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded SBA Communications from a “hold” rating to a “sell” rating in a research report on Friday. BidaskClub upgraded SBA Communications from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays reiterated a “buy” rating and issued a $178.00 target price on shares of SBA Communications in a report on Friday, January 19th. Guggenheim set a $172.00 target price on SBA Communications and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, Cowen reiterated a “buy” rating and issued a $170.00 target price (up from $155.00) on shares of SBA Communications in a report on Tuesday, December 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $165.07.

Shares of SBA Communications Co. (SBAC) opened at $159.63 on Tuesday. The firm has a market capitalization of $18,774.98, a P/E ratio of 190.04 and a beta of 0.85. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. SBA Communications Co. has a 1-year low of $105.74 and a 1-year high of $177.67.

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SBA Communications Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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

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