Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SBA Communications Corp shares valued at $71,364 were sold by Krouse George R Jr on Aug 21 ’24. At $219.58 per share, Krouse George R Jr sold 325 shares. The insider’s holdings dropped to 8,084 shares worth approximately $1.96 million following the completion of this transaction.
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Also, GEORGE R. KROUSE JR. purchased 325 shares, netting a total of over 71,364 in proceeds.
Before that, STOOPS JEFFREY had added 48,825 shares to its account. In a trade valued at $10,658,253, the Director bought SBA Communications Corp shares for $218.29 each.
As published in a research note from Wells Fargo on July 15, 2024, SBA Communications Corp [SBAC] has been rated down from an Overweight to an Equal weight and the price target has been revised to $220 from $230. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of December 15, 2023, BMO Capital Markets has increased its “Market perform” rating to a “an Outperform” for SBAC. Earlier on August 10, 2023, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for SBAC stock which previously was a “a Buy”.
Analyzing SBAC Stock Performance
During the last five days, there has been a surge of approximately 3.70%. Over the course of the year, SBA Communications Corp shares have dropped approximately -4.67%. Shares of the company reached a 52-week high of $255.90 on 01/02/24 and a 52-week low of $183.64 on 05/01/24. A 50-day SMA is recorded $217.37, while a 200-day SMA reached $216.40. Nevertheless, trading volume fell to 0.75 million shares from 0.85 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 238.32, which, if violated, would cause prices to drop to 234.80. In the upper region, resistance lies at 243.85. The next price resistance is at 245.86. RSI (Relative Strength Index) is 75.96 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.78, which suggests the price will increase in the coming days. Percent R is at 7.28%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
