Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SBA Communications Corp shares valued at $472,150 were sold by DAY DONALD on Dec 20 ’24. At $203.43 per share, DAY DONALD sold 2,321 shares. The insider’s holdings dropped to 4,998 shares worth approximately $1.02 million following the completion of this transaction.
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Also, Ciarfella Mark R sold 3,545 shares, netting a total of over 795,235 in proceeds. Following the sale of shares at $224.33 each, the insider now holds 33,588 shares.
Before that, DAY DONALD had sold 1,500 shares from its account. In a trade valued at $364,290, the EVP – SITE LEASING traded SBA Communications Corp shares for $242.86 each. Upon closing the transaction, the insider’s holdings decreased to 1,500 shares, worth approximately $1.02 million.
As published in a research note from BMO Capital Markets on December 18, 2024, SBA Communications Corp [SBAC] has been rated down from an Outperform to a Market perform and the price target has been revised to $230 from $260. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid July. As of March 07, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for SBAC. Earlier on December 15, 2023, BMO Capital Markets upgraded its rating. Their new recommendation was “an Outperform” for SBAC stock which previously was a “a Market perform”.
Analyzing SBAC Stock Performance
During the last five days, there has been a surge of approximately 1.46%. Over the course of the year, SBA Communications Corp shares have dropped approximately -19.59%. 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 $223.50, while a 200-day SMA reached $215.22. Nevertheless, trading volume fell to 0.59 million shares from 0.44 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 201.92, which, if violated, would cause prices to drop to 199.85. In the upper region, resistance lies at 205.09. The next price resistance is at 206.19. RSI (Relative Strength Index) is 33.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.83, which suggests the price will decrease in the coming days. Percent R is at 75.48%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
