B. Riley Wealth Advisors Inc. Has $245,000 Stock Position in SBA Communications Co. (NASDAQ:SBAC)

B. Riley Wealth Advisors Inc. decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 30.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,246 shares of the technology company’s stock after selling 535 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in SBA Communications were worth $245,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in SBAC. Ridgewood Investments LLC bought a new stake in shares of SBA Communications during the 2nd quarter valued at $32,000. Quarry LP raised its position in shares of SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after buying an additional 132 shares in the last quarter. Family Firm Inc. bought a new stake in shares of SBA Communications during the 2nd quarter worth approximately $36,000. Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications during the 2nd quarter worth approximately $49,000. Finally, Versant Capital Management Inc increased its stake 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 acquiring an additional 270 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SBAC. JPMorgan Chase & Co. raised their target price on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada lifted their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. KeyCorp increased their target price on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Barclays decreased their price target on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Morgan Stanley increased their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $244.08.

Insiders Place Their Bets

In other news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,590 shares of company stock worth $11,483,981. 1.30% of the stock is currently owned by company insiders.

SBA Communications Trading Up 0.4 %

Shares of SBA Communications stock opened at $238.62 on Wednesday. The company has a market cap of $25.64 billion, a P/E ratio of 46.79, a PEG ratio of 0.73 and a beta of 0.67. The business has a 50-day moving average price of $230.36 and a two-hundred day moving average price of $210.87. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The business had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.24 earnings per share. Equities research analysts forecast that SBA Communications Co. will post 12.52 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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

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.