Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SBA Communications Corp shares valued at $364,290 were sold by DAY DONALD on Sep 13 ’24. At $242.86 per share, DAY DONALD sold 1,500 shares. The insider’s holdings dropped to 4,998 shares worth approximately $1.11 million following the completion of this transaction.
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Also, Krouse George R Jr sold 325 shares, netting a total of over 71,364 in proceeds. Following the sale of shares at $219.58 each, the insider now holds 8,084 shares.
Before that, GEORGE R. KROUSE JR. had added 325 shares to its account. In a trade valued at $71,364, the Director bought SBA Communications Corp shares for $219.58 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 drop of approximately -3.44%. Over the course of the year, SBA Communications Corp shares have dropped approximately -12.66%. 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 $237.70, while a 200-day SMA reached $215.08. Nevertheless, trading volume fell to 1.86 million shares from 2.24 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 218.77, which, if violated, would cause prices to drop to 215.95. In the upper region, resistance lies at 223.38. The next price resistance is at 225.17. RSI (Relative Strength Index) is 34.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.86, which suggests the price will decrease in the coming days. Percent R is at 74.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
