M.D. Sass LLC Sells 10,434 Shares of SBA Communications Co. (NASDAQ:SBAC)

M.D. Sass LLC reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 312,072 shares of the technology company’s stock after selling 10,434 shares during the period. SBA Communications makes up approximately 5.6% of M.D. Sass LLC’s investment portfolio, making the stock its 8th biggest position. M.D. Sass LLC owned about 0.29% of SBA Communications worth $75,116,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in shares of SBA Communications in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in SBA Communications in the third quarter valued at approximately $35,000. Ridgewood Investments LLC acquired a new position in shares of SBA Communications during the second quarter worth $32,000. Family Firm Inc. bought a new position in shares of SBA Communications in the 2nd quarter valued at $36,000. Finally, Friedenthal Financial bought a new stake in SBA Communications during the 3rd quarter worth $50,000. Institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 23.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

SBA Communications Trading Up 0.3 %

Shares of SBAC traded up $0.58 on Tuesday, reaching $226.56. 58,196 shares of the company’s stock traded hands, compared to its average volume of 919,910. The stock’s 50 day simple moving average is $233.84 and its two-hundred day simple moving average is $217.65. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The stock has a market cap of $24.36 billion, a PE ratio of 35.64, a PEG ratio of 0.75 and a beta of 0.68.

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

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.73%. SBA Communications’s dividend payout ratio is presently 61.83%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group upped their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Raymond James boosted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. BMO Capital Markets lifted their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $257.23.

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.