Mount Yale Investment Advisors LLC Sells 10,445 Shares of SBA Communications Co. (NASDAQ:SBAC)

Mount Yale Investment Advisors LLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 53.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,104 shares of the technology company’s stock after selling 10,445 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in SBA Communications were worth $1,855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBAC. Victory Capital Management Inc. lifted its holdings in shares of SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after buying an additional 1,174,469 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the period. KBC Group NV grew its position in SBA Communications by 212.3% in the 4th quarter. KBC Group NV now owns 410,023 shares of the technology company’s stock worth $83,562,000 after purchasing an additional 278,737 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of SBA Communications by 71.0% during the 3rd quarter. Barclays PLC now owns 658,029 shares of the technology company’s stock worth $158,386,000 after purchasing an additional 273,237 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Activity at SBA Communications

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 company’s 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 transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of recent research reports. Barclays decreased their target price on SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. KeyCorp lifted their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen upped their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company decreased their price target on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets restated a “market perform” rating and issued a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $252.29.

SBA Communications Trading Down 0.9 %

Shares of SBA Communications stock opened at $196.83 on Monday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The firm’s 50-day moving average price is $209.38 and its two-hundred day moving average price is $221.84. The stock has a market capitalization of $21.16 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period in the prior year, the business earned $3.34 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts predict that SBA Communications Co. will post 12.57 EPS for the current year.

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.