Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SBA Communications Corp shares valued at $430,966 were sold by Chan Mary S on Mar 05 ’24. At $217.99 per share, Chan Mary S sold 1,977 shares. The insider’s holdings dropped to 4,622 shares worth approximately $0.91 million following the completion of this transaction.
Also, SILBERSTEIN JASON V sold 16,465 shares, netting a total of over 4,205,886 in proceeds. Following the sale of shares at $255.44 each, the insider now holds 29,908 shares.
Before that, Lazarus Brian D had sold 20,605 shares from its account. In a trade valued at $5,137,906, the SVP & Chief Accounting Officer traded SBA Communications Corp shares for $249.35 each. Upon closing the transaction, the insider’s holdings decreased to 20,605 shares, worth approximately $1.39 million.
As published in a research note from BofA Securities on March 07, 2024, SBA Communications Corp [SBAC] has been rated up from a Neutral to a Buy and the price target has been revised to $260. Analysts at BMO Capital Markets upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid December. As of August 10, 2023, BofA Securities has decreased its “Buy” rating to a “Neutral” for SBAC. Earlier on July 13, 2023, BMO Capital Markets initiated its rating. Their recommendation was “a Market perform” for SBAC stock.
Analyzing SBAC Stock Performance
During the last five days, there has been a drop of approximately -3.99%. Over the course of the year, SBA Communications Corp shares have dropped approximately -22.65%. Shares of the company reached a 52-week high of $255.90 on 01/02/24 and a 52-week low of $194.71 on 04/16/24. A 50-day SMA is recorded $212.36, while a 200-day SMA reached $222.17. Nevertheless, trading volume fell to 0.76 million shares from 0.92 million shares the previous day.
Support And Resistance Levels for SBA Communications Corp (SBAC)
According to the 24-hour chart, there is a support level at 194.92, which, if violated, would cause prices to drop to 193.63. In the upper region, resistance lies at 197.78. The next price resistance is at 199.34. RSI (Relative Strength Index) is 31.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.48, which suggests the price will decrease in the coming days. Percent R is at 94.02%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
