SBA Communications Corporation (SBAC) : Money flow in the SBA Communications Corporation (SBAC) stock was negative (1.75 million) on Friday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $4.94 million, compared to $6.69 million on downticks. The total uptick to downtick ratio was 0.74, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($1.13 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $1.13 million, indicating persistent selling. SBA Communications Corporation (SBAC) traded $1.1 higher at $113.06 gaining 0.99% over the previous days close.
SBA Communications Corporation (SBAC) has been rated by 11 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $133 and the lowest price target forecast is $102. The average forecast of all the analysts is $120.73 and the expected standard deviation is $9.34.
SBA Communications Corporation (NASDAQ:SBAC): stock turned positive on Friday. Though the stock opened at $112.44, the bulls momentum made the stock top out at $113.27 level for the day. The stock recorded a low of $111.98 and closed the trading day at $113.17, in the green by 1.08%. The total traded volume for the day was 864,080. The stock had closed at $111.96 in the previous days trading.
In a related news, Cocroft Duncan, director of Sba Communications Corp, had purchased 1,000 shares on June 16, 2016. The total value of the transaction was $100,160. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
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 operated through two segments, namely site leasing and site development. The Companys primary business line is its site leasing business. In its site leasing business, the Company leases antenna space to wireless service providers on towers that it owns or operates, and manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5,000 actual or potential towers. Its other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Companys principal operations are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America, and South America.