Mount Yale Investment Advisors LLC Trims Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Mount Yale Investment Advisors LLC decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 11.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,319 shares of the technology company’s stock after selling 2,746 shares during the period. Mount Yale Investment Advisors LLC’s holdings in SBA Communications were worth $4,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC purchased a new stake in SBA Communications in the 2nd quarter valued at about $32,000. Family Firm Inc. purchased a new stake in shares of SBA Communications in the 2nd quarter valued at approximately $36,000. Quarry LP boosted its position in shares of SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the period. Global X Japan Co. Ltd. acquired a new stake in SBA Communications in the 2nd quarter valued at approximately $49,000. Finally, Versant Capital Management Inc raised its position in SBA Communications by 4,500.0% in the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SBA Communications news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The disclosure for this sale can be found here. Insiders have sold 51,590 shares of company stock worth $11,483,981 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

SBA Communications Trading Up 0.5 %

Shares of SBAC stock opened at $239.47 on Friday. The company has a market cap of $25.73 billion, a P/E ratio of 46.95, a PEG ratio of 0.75 and a beta of 0.67. The firm has a fifty day moving average price of $224.12 and a 200 day moving average price of $209.24. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same period in the prior year, the company posted $3.24 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SBAC. Barclays dropped their price objective on SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Wells Fargo & Company lowered shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $230.00 to $220.00 in a research note on Monday, July 15th. Morgan Stanley increased their price target on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada lifted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $240.00.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.