Perennial Investment Advisors LLC bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,051 shares of the technology company’s stock, valued at approximately $494,000.
Several other institutional investors have also made changes to their positions in SBAC. Usca Ria LLC acquired a new stake in SBA Communications in the third quarter valued at approximately $25,000. Quest Capital Management Inc. ADV purchased a new stake in SBA Communications in the 3rd quarter worth $36,000. Atlas Capital Advisors LLC purchased a new stake in SBA Communications in the 3rd quarter worth $36,000. Prime Capital Investment Advisors LLC acquired a new position in SBA Communications during the third quarter worth $42,000. Finally, Advisory Services Network LLC raised its position in SBA Communications by 34.1% during the fourth quarter. Advisory Services Network LLC now owns 173 shares of the technology company’s stock worth $42,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 93.54% of the company’s stock.
In other SBA Communications news, Director Mary S. Chan sold 4,207 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $250.00, for a total transaction of $1,051,750.00. Following the transaction, the director now owns 4,290 shares of the company’s stock, valued at $1,072,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.
Shares of NASDAQ:SBAC traded up $4.83 during midday trading on Friday, hitting $294.61. The company had a trading volume of 425,178 shares. SBA Communications Co. has a twelve month low of $178.57 and a twelve month high of $294.77. The business’s 50-day simple moving average is $250.88 and its 200-day simple moving average is $245.80.
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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