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Analyzing SBA Communications Corp (SBAC) After Recent Trading Activity


SBA Communications Corp’s recently made public that its Director Chan Mary S unloaded Company’s shares for reported $0.43 million on Mar 05 ’24. In the deal valued at $217.99 per share,1,977 shares were sold. As a result of this transaction, Chan Mary S now holds 4,622 shares worth roughly $0.88 million.

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Then, SILBERSTEIN JASON V sold 16,465 shares, generating $4,205,886 in total proceeds. Upon selling the shares at $255.44, the EVP – Site Leasing now owns 29,908 shares.

Before that, Lazarus Brian D sold 20,605 shares. SBA Communications Corp shares valued at $5,137,906 were divested by the SVP & Chief Accounting Officer at a price of $249.35 per share. As a result of the transaction, Lazarus Brian D now holds 7,085 shares, worth roughly $1.35 million.

BofA Securities upgraded its SBA Communications Corp [SBAC] rating to a Buy from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who increased its forecast for the stock in mid December from “a Market perform” to “an Outperform”. BofA Securities also remained covering SBAC and has decreased its forecast on August 10, 2023 with a “Neutral” recommendation from previously “Buy” rating. BMO Capital Markets started covering the stock on July 13, 2023. It rated SBAC as “a Market perform”.

Price Performance Review of SBAC

On Friday, SBA Communications Corp [NASDAQ:SBAC] saw its stock fall -0.70% to $190.83. Over the last five days, the stock has lost -3.11%. SBA Communications Corp shares have fallen nearly -24.78% since the year began. Nevertheless, the stocks have fallen -20.81% over the past one year. While a 52-week high of $258.76 was reached on 01/02/24, a 52-week low of $183.64 was recorded on 05/01/24. SMA at 50 days reached $194.68, while 200 days put it at $213.84. A total of 0.58 million shares were traded, compared to the trading of 0.47 million shares in the previous session.

Levels Of Support And Resistance For SBAC Stock

The 24-hour chart illustrates a support level at 189.16, which if violated will result in even more drops to 187.49. On the upside, there is a resistance level at 192.41. A further resistance level may holdings at 193.99. The Relative Strength Index (RSI) on the 14-day chart is 44.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.77%. Stochastics%K at 37.45% indicates the stock is a holding.

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