Park Avenue Securities LLC Has $944,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Park Avenue Securities LLC increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 29.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,630 shares of the technology company’s stock after purchasing an additional 1,045 shares during the period. Park Avenue Securities LLC’s holdings in SBA Communications were worth $944,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in SBA Communications in the 3rd quarter valued at approximately $35,000. Friedenthal Financial acquired a new position in SBA Communications in the 3rd quarter valued at approximately $50,000. Farther Finance Advisors LLC raised its holdings in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after acquiring an additional 53 shares in the last quarter. Finally, Eastern Bank acquired a new position in SBA Communications in the 3rd quarter valued at approximately $58,000. 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 2,321 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

SBA Communications Price Performance

NASDAQ SBAC opened at $203.61 on Tuesday. The firm has a market cap of $21.89 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 0.68 and a beta of 0.69. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The stock’s 50 day simple moving average is $211.30 and its 200 day simple moving average is $221.60.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $3.34 earnings per share. As a group, equities analysts expect that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.93%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Wall Street Analyst Weigh In

SBAC has been the subject of several recent research reports. KeyCorp upped their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Barclays cut their price target on SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a report on Monday, January 13th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. JPMorgan Chase & Co. upped their price target on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, TD Cowen increased their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average target price of $254.77.

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.