Mount Yale Investment Advisors LLC Has $1.86 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Mount Yale Investment Advisors LLC lowered its position in SBA Communications Co. (NASDAQ:SBAC) by 53.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,104 shares of the technology company’s stock after selling 10,445 shares during the period. 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 have also added to or reduced their stakes in SBAC. Victory Capital Management Inc. grew its stake in SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after acquiring an additional 1,174,469 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 in the last quarter. JPMorgan Chase & Co. grew its position in shares of 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 increased its stake in SBA Communications by 212.3% during 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 in the last quarter. Finally, Barclays PLC raised its holdings in 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 buying an additional 273,237 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Down 0.9 %

SBAC opened at $196.83 on Monday. The stock’s fifty day simple moving average is $209.38 and its 200 day simple moving average is $221.84. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The stock has a market cap of $21.16 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.34 earnings per share. Equities analysts forecast that SBA Communications Co. will post 12.57 earnings per share for the current year.

Insider Activity

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred 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 sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several research analyst reports. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday. Barclays reduced their target price on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. JMP Securities assumed coverage on SBA Communications in a research note on Monday. They issued an “outperform” rating and a $250.00 target price on the stock. Finally, Raymond James lifted their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.29.

SBA Communications Company Profile

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.