SBA Communications Corporation (SBAC) Shares are Up 2.16%

SBA Communications Corporation (SBAC) : Traders are bullish on SBA Communications Corporation (SBAC) as it has outperformed the S&P 500 by a wide margin of 0.97% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.11%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.16% in the last 1 week, and is up 2.01% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 2.15% and the 50-Day Moving Average is 6.88%. SBA Communications Corporation (NASDAQ:SBAC): stock turned positive on Friday. Though the stock opened at $115.06, the bulls momentum made the stock top out at $117.13 level for the day. The stock recorded a low of $115.06 and closed the trading day at $116.32, in the green by 0.15%. The total traded volume for the day was 616,006. The stock had closed at $116.15 in the previous days trading.


The company Insiders own 2.1% of SBA Communications Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -4.06% . Institutional Investors own 96.41% of SBA Communications Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -4.06%. Also, In a research note released to the investors, Jefferies maintains its rating on SBA Communications Corporation (NASDAQ:SBAC).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Jefferies raises the new price target from $115 per share to $133 per share. The rating by the firm was issued on July 29, 2016.

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.

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