MJP Associates Inc. ADV Grows Position in SBA Communications Co. (NASDAQ:SBAC)

MJP Associates Inc. ADV lifted its stake in SBA Communications Co. (NASDAQ:SBAC) by 14.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,845 shares of the technology company’s stock after buying an additional 595 shares during the quarter. MJP Associates Inc. ADV’s holdings in SBA Communications were worth $951,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in shares of SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after buying an additional 45 shares in the last quarter. Marks Group Wealth Management Inc raised its stake in SBA Communications by 4.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after purchasing an additional 54 shares in the last quarter. Ballentine Partners LLC raised its stake in SBA Communications by 2.7% during the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after purchasing an additional 55 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its stake in SBA Communications by 3.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after purchasing an additional 58 shares in the last quarter. Finally, Warwick Investment Management Inc. raised its stake in SBA Communications by 6.1% during the fourth quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock valued at $269,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SBAC. Citigroup reduced their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen reduced their target price on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada increased their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays reduced their target price on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $241.67.

SBA Communications Trading Down 1.8 %

Shares of NASDAQ SBAC traded down $3.98 during mid-day trading on Friday, reaching $212.91. The company had a trading volume of 735,452 shares, compared to its average volume of 1,119,476. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The business’s 50-day moving average is $203.13 and its 200-day moving average is $206.01. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last issued its earnings results 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 the consensus estimate of $665.21 million. During the same quarter in the previous year, the company earned $3.24 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts forecast that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s payout ratio is 76.86%.

Insider Buying and Selling at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

SBA Communications 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.