OLD National Bancorp IN trimmed its stake in SBA Communications Co. (NASDAQ:SBAC) by 6.5% in the 4th quarter, HoldingsChannel reports. The firm owned 9,984 shares of the technology company’s stock after selling 690 shares during the period. OLD National Bancorp IN’s holdings in SBA Communications were worth $1,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. KBC Group NV increased its stake in shares of SBA Communications by 26.4% in the 4th quarter. KBC Group NV now owns 144,623 shares of the technology company’s stock worth $23,626,000 after purchasing an additional 30,235 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of SBA Communications by 5.1% in the 4th quarter. California Public Employees Retirement System now owns 275,007 shares of the technology company’s stock worth $44,925,000 after purchasing an additional 13,416 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of SBA Communications by 647.2% in the 4th quarter. Teacher Retirement System of Texas now owns 206,953 shares of the technology company’s stock worth $33,808,000 after purchasing an additional 179,256 shares in the last quarter. ING Groep NV increased its stake in shares of SBA Communications by 7.4% in the 4th quarter. ING Groep NV now owns 11,176 shares of the technology company’s stock worth $1,826,000 after purchasing an additional 774 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in shares of SBA Communications by 52.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 14,552 shares of the technology company’s stock worth $2,377,000 after purchasing an additional 5,011 shares in the last quarter. Hedge funds and other institutional investors own 95.08% of the company’s stock.

Shares of SBA Communications Co. (NASDAQ:SBAC) opened at $159.63 on Tuesday. SBA Communications Co. has a 12 month low of $105.74 and a 12 month high of $177.67. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of -3.63. The stock has a market capitalization of $18,774.98, a price-to-earnings ratio of 199.66 and a beta of 0.85.

Several equities research analysts have recently commented on the company. Barclays restated a “buy” rating and issued a $178.00 price objective on shares of SBA Communications in a research note on Friday, January 19th. UBS Group assumed coverage on SBA Communications in a research note on Wednesday, October 18th. They issued a “buy” rating and a $176.00 price objective for the company. KeyCorp restated an “overweight” rating and issued a $192.00 price objective (up from $179.00) on shares of SBA Communications in a research note on Monday, November 27th. Cowen restated a “buy” rating and issued a $147.00 price objective on shares of SBA Communications in a research note on Tuesday, October 17th. Finally, Zacks Investment Research lowered SBA Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $165.07.

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About SBA Communications

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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